Media General Reports July Revenues

Media General Reports July Revenues

RICHMOND, Va., Aug. 16 /PRNewswire-FirstCall/ -- Media General, Inc. (NYSE:MEG) today reported that total revenues for July 2005 increased 2.3 percent, to $80.3 million, from July 2004. On a divisional basis, Publishing revenues increased 2.6 percent, Broadcast revenues were about the same as last year, and Interactive Media Division revenues rose 45.9 percent.

"Media General's July revenue growth reflected increases in all newspaper advertising categories, especially Classified, and showed particularly robust growth in Local television advertising," said Marshall N. Morton, president and chief executive officer. "In the Publishing Division, revenue growth at The Tampa Tribune continued to be very strong, and our Community newspapers overall experienced a solid increase in advertising revenues. The Richmond Times-Dispatch and Winston-Salem Journal posted year-over-year revenue declines, primarily due to weak Retail advertising," said Morton. "The Broadcast Division experienced another month of double-digit growth in Local time sales, which essentially offset a decline in National time sales and Political spot billings.

"Through June, both our Publishing and Broadcast divisions delivered top- of-industry revenue growth. Based on July revenue reports so far, that trend appears to be continuing," said Morton. Media General's Publishing Division led its peer group with year-to-date growth in the first six months of 4.9 percent. According to the Television Bureau of Advertising's Group Survey through June, the company's Broadcast Division's total time sales improved 0.9 percent, while industry time sales declined 3.6 percent.

Newspaper advertising revenues increased $1.9 million, or 4.4 percent, compared to last July. Including revenues from the company's newspaper Web sites, Publishing revenues increased 3.4 percent and newspaper advertising revenues rose 5.4 percent for the month.

Classified revenues increased $1.1 million, or 5.9 percent. Total Classified advertising increased 8.2 percent at The Tampa Tribune and 4.1 percent at the Richmond Times-Dispatch, while the Winston-Salem Journal was down 3.3 percent from last year. The Community newspapers were up 6.4 percent. Including online advertising, Classified revenues increased 7.6 percent overall in July.

At the company's three metro newspapers, employment linage increased 9.4 percent, including growth of 7.4 percent at The Tampa Tribune and an increase of 10.6 percent at both the Richmond Times-Dispatch and Winston-Salem Journal. Real estate linage increased 19.2 percent for the three markets, while automotive linage was down 12.4 percent.

Retail revenues increased $380,000, or 2 percent. The Tampa Tribune posted a 5.9 percent gain, which reflected strength in the department store, financial, medical, entertainment and home improvement categories as well as color and preprints. Retail revenues at the Richmond Times-Dispatch declined 4.6 percent, primarily due to decreases in preprints, furniture, medical and department store advertising. The Winston-Salem Journal was down 7.2 percent due to reductions in the department store and furniture categories as well as preprints. Retail advertising at the company's Community newspapers was mixed for the month, with the Northern Virginia market reporting the largest increase.

National revenues rose $240,000, or 6.4 percent. The Tampa Tribune reported 9.9 percent growth as the result of higher automotive, telecommunications and drug store advertising. The Winston-Salem Journal reported an 11.8 percent increase, which reflected higher spending in the telecommunications category. The Richmond Times-Dispatch declined 9 percent, due to lower telecommunications advertising and preprints.

Due primarily to a change in wholesale rates to independent carriers, for which there was a corresponding decrease in expense, circulation revenues of $485,000 were 5.9 percent below last year. While some Media General newspapers experienced circulation volume declines in July, seven newspapers reported Daily and Sunday circulation volume growth over last year.

In the Broadcast Division, gross time sales were approximately the same as the prior year. Local time sales grew by a robust $2 million, or 12.9 percent, driven by new business development initiatives. Gains in the automotive, financial, fast food, and entertainment categories more than offset declines in the utilities and grocery store categories.

National time sales declined $565,000, or 6.2 percent, mostly due to lower spending levels in the fast food, financial and food advertising categories. In addition, some advertiser cancellations, especially by automotive companies, had an unfavorable impact on National time sales in July.

Political revenues of $110,000 represented issues advertising as well as spending in the race for governor in Virginia and compared with billings of $1.6 million in July 2004.

Interactive Media Division revenues rose 45.9 percent to $1.9 million. This growth was driven by a 43 percent increase in Classified advertising and a 35 percent increase in Local advertising.

About Media General

Media General is a diversified communications company operating leading newspapers, television stations and online enterprises, primarily in the Southeastern United States. The company's publishing assets include three metropolitan newspapers, The Tampa Tribune, Richmond Times-Dispatch, and Winston-Salem Journal; 22 daily community newspapers in Virginia, North Carolina, Florida, Alabama and South Carolina; and more than 100 weekly newspapers and other publications. The company's broadcasting assets include 26 network-affiliated television stations that reach more than 30 percent of the television households in the Southeast and nearly 8 percent of those in the United States. The company's interactive media assets include more than 50 online enterprises that are associated with its newspapers and television stations. Media General also owns a 33 percent interest in SP Newsprint Company.

MEDIA GENERAL INC.
Revenues and Page Views

July
2005 2004 % Change

Revenues (000) $80,302 $78,526 2.3 %
Publishing 52,401 51,062 2.6 %
Broadcast 26,458 26,472 (0.1)%
Interactive Media 1,886 1,293 45.9 %
Eliminations (443) (301) (47.2)%

Selected Publishing Revenues (000)
By Category
Advertising $43,636 $41,779 4.4 %
Classified 19,823 18,713 5.9 %
Retail 19,107 18,727 2.0 %
National 4,002 3,762 6.4 %
Other 704 577 22.0 %
Circulation 7,776 8,260 (5.9)%
By Property
Richmond 12,040 12,349 (2.5)%
Tampa 17,218 16,134 6.7 %
Winston-Salem 4,681 4,791 (2.3)%
Community Newspapers 18,291 17,614 3.8 %

Advertising Revenues (000)
Richmond $9,219 $9,283 (0.7)%
Tampa 15,724 14,582 7.8 %
Winston-Salem 3,721 3,866 (3.8)%
Community Newspapers 14,615 13,879 5.3 %

Broadcast Time Sales (gross) (000) $26,177 $26,203 (0.1)%
Local 17,547 15,540 12.9 %
National 8,522 9,085 (6.2)%
Political 108 1,578 (93.2)%

Selected Online Total Page Views
TBO.com 22,274,736 17,590,223 26.6 %
(Tampa, Fla.)
TimesDispatch.com 8,947,770 6,655,350 34.4 %
(Richmond, Va.)
JournalNow.com 3,858,028 3,031,098 27.3 %
(Winston-Salem, N.C.)

Year-to-Date
2005 2004 % Change

Revenues (000) $531,948 $511,572 4.0 %
Publishing 342,294 327,296 4.6 %
Broadcast 181,019 178,598 1.4 %
Interactive Media 11,349 7,777 45.9 %
Eliminations (2,714) (2,099) (29.3)%

Selected Publishing Revenues (000)
By Category
Advertising $283,501 $267,011 6.2 %
Classified 124,886 115,461 8.2 %
Retail 127,724 123,142 3.7 %
National 26,692 24,288 9.9 %
Other 4,199 4,120 1.9 %
Circulation 51,298 53,259 (3.7)%
By Property
Richmond 81,612 80,025 2.0 %
Tampa 111,645 103,145 8.2 %
Winston-Salem 31,359 30,843 1.7 %
Community Newspapers 116,450 112,030 3.9 %

Advertising Revenues (000)
Richmond $63,051 $60,391 4.4 %
Tampa 100,492 92,296 8.9 %
Winston-Salem 25,284 24,994 1.2 %
Community Newspapers 92,836 88,156 5.3 %

Broadcast Time Sales (gross) (000) $179,816 $178,453 0.8 %
Local 117,599 107,420 9.5 %
National 61,208 60,849 0.6 %
Political 1,009 10,184 (90.1)%

Selected Online Total Page Views
TBO.com 111,731,535 107,047,022 4.4 %
(Tampa, Fla.)
TimesDispatch.com 46,878,816 44,586,396 5.1 %
(Richmond, Va.)
JournalNow.com 20,391,638 19,564,708 4.2 %
(Winston-Salem, N.C.)

Notes: All data are subject to later adjustment.

MEDIA GENERAL INC.
Daily Newspapers Advertising Linage*

July
2005 2004 % Change
RICHMOND TIMES-DISPATCH
Retail 29,390 34,374 (14.5)%
National 9,780 10,356 (5.6)%
Classified 85,241 89,107 (4.3)%
Total 124,411 133,837 (7.0)%
TAMPA TRIBUNE
Retail 49,372 48,118 2.6 %
National 18,370 15,960 15.1 %
Classified 152,905 157,980 (3.2)%
Total 220,647 222,058 (0.6)%
WINSTON-SALEM JOURNAL
Retail 36,609 38,627 (5.2)%
National 9,154 8,635 6.0 %
Classified 70,007 72,654 (3.6)%
Total 115,770 119,916 (3.5)%
COMMUNITY & ASSOCIATES DAILIES
Retail 370,182 350,346 5.7 %
National 34,246 32,393 5.7 %
Classified 532,718 538,987 (1.2)%
Total 937,146 921,726 1.7 %
MEDIA GENERAL DAILIES TOTAL
Retail 485,553 471,465 3.0 %
National 71,550 67,344 6.2 %
Classified 840,871 858,728 (2.1)%
Total 1,397,974 1,397,537 0.0 %

Year-to Date
2005 2004 % Change
RICHMOND TIMES-DISPATCH
Retail 219,089 232,996 (6.0)%
National 73,923 75,497 (2.1)%
Classified 556,680 553,520 0.6 %
Total 849,692 862,013 (1.4)%
TAMPA TRIBUNE
Retail 325,210 306,357 6.2 %
National 110,086 102,471 7.4 %
Classified 987,226 990,002 (0.3)%
Total 1,422,522 1,398,830 1.7 %
WINSTON-SALEM JOURNAL
Retail 255,035 262,721 (2.9)%
National 63,490 59,620 6.5 %
Classified 447,029 442,818 1.0 %
Total 765,554 765,159 0.1 %
COMMUNITY & ASSOCIATES DAILIES
Retail 2,324,217 2,314,727 0.4 %
National 209,986 202,172 3.9 %
Classified 3,231,574 3,345,539 (3.4)%
Total 5,765,777 5,862,438 (1.6)%
MEDIA GENERAL DAILIES TOTAL
Retail 3,123,551 3,116,801 0.2 %
National 457,485 439,760 4.0 %
Classified 5,222,509 5,331,879 (2.1)%
Total 8,803,545 8,888,440 (1.0)%

* Advertising is in column inches -- full run only

Source: Media General

CONTACT: Investors: Lou Anne J. Nabhan, +1-804-649-6103, or Media: Ray
Kozakewicz, +1-804-649-6748, both of Media General

Web site: http://www.mediageneral.com/

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