Media General Revenue Rises; Newspaper Business Still Struggling
Media General (MEG), the Virginia-based newspaper publisher and local TV station operator, today reported that second-quarter operating income rose 19% year over year to $16.3 million and posted a 2% increase in total revenue to $166.2 million.
The company attributed the rising operating profit to an uptick in political advertising on its local TV stations. CEO Marshall Morton said the company drew $7 million in revenue related to political ads.
Media General’s publishing segment didn’t see the same level of success.
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