Media General Has Promising Q1 as Stations Rebound

By Andrew Gauthier 


Newspaper and TV station owner Media General Inc. said Wednesday that its first-quarter loss narrowed from a year ago as expenses fell and its broadcast segment enjoyed a boost from Olympics advertising.

Like other companies in its industry, Media General is still seeing erosion in print sales. It booked a 9 percent drop in publishing revenue. The company, which owns several large regional dailies, including the Richmond Times-Dispatch and The Tampa Tribune, says it expects the decline in publishing revenue to “continue to moderate” in the current quarter.

Its TV stations already have started to increase their revenue after last year’s advertising drought. More…