Media General Board Increases Dividend

Media General Board Increases Dividend

RICHMOND, Va., Jan. 26 /PRNewswire-FirstCall/ -- The Board of Directors of Media General (NYSE:MEG) today increased the company's quarterly dividend by 5 percent from 21 cents per common share to 22 cents per common share. The dividend is payable on March 15, 2006, to Class A and Class B shareholders of record on February 28, 2006.

"Today's action reflects Media General's strong cash flow and financial position and reinforces its commitment to building shareholder value," said Marshall N. Morton, president and chief executive officer.

Media General's Board has increased the dividend 28 times and a dividend has been declared every quarter, or 143 consecutive quarters, since the company became public in 1969.

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, a manufacturer of recycled newsprint.

Source: Media General

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

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

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