Media General, Hit By Severance Costs, Reports Loss
Newspaper publisher and broadcast station owner Media General today reported a Q4 2011 loss of $3.3 million on revenues of $168 million, as the company’s severance costs and impairment charges overwhelmed its operating income of $27 million dollars.
Without the special charges, the company would have reported $4.5 million in income, less than half the income from the fourth quarter of 2010. Those $168 million in revenues were $22 million lower than the revenue from a year prior.
Partially
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