Hammered By Debt, Media General Loss Widens
Newspaper/TV company Media General reported a second quarter loss of $15.4 million, down from a $4.3 million loss a year prior.
The company actually netted $6.8 million before taxes and interest payments on its debt (down $10m from the previous year) but spent $17 million in interest on its loans of $659 million.
Even digital revenues fell in this quarter, $1 million less than a year ago. Digital revenues make up less than 6 percent of Media General’s income.
Other nuggets: the company spent $1.6
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