Broadcasting & Cable
Media General’s broadcasting revenue was $71.6 million in the fourth quarter of 2009, down 17% from the same quarter a year before. The media company said the decrease was “entirely a reflection of lower political revenues in the current period.”
Media General‘s broadcast revenue grew from the $63.4 million it reported in the third quarter of 2009.
The company’s operating expenses dropped 22% in the fourth quarter, due in large part to Media General having 900 fewer employees at the end of 2009, compared to the end of 2008.
“Media General’s fourth-quarter results improved year-over-year and sequentially from the third quarter of 2009,” said President/CEO Marshall Morton. “Total revenues in the fourth quarter decreased 14%, a sequential improvement from an 18% decrease in the third quarter of 2009. More…