Media General Reports September Revenues

Media General Reports September Revenues

RICHMOND, Va., Oct. 11 /PRNewswire-FirstCall/ -- Media General, Inc. (NYSE:MEG) today reported September 2006 total revenues of $79.5 million, a 16.7 percent increase from September 2005, including the revenues of four new NBC television stations. Excluding the new stations, total revenues increased 2.4 percent in September. By business segment, Publishing Division revenues declined 2.9 percent, Broadcast Division total revenues increased 56.3 percent, or 11 percent excluding the new stations, and Interactive Media Division total revenues rose 45.6 percent.

Newspaper advertising revenues in September declined $930,000 or 2.4 percent, and reflected decreases in all categories. Including online revenues from associated Web sites, newspaper advertising revenues decreased only 1.6 percent in September.

Retail advertising revenues declined $330,000, or 1.9 percent. A small increase generated by the Winston-Salem Journal was more than offset by a slight decrease at The Tampa Tribune. Retail revenues for the Richmond Times- Dispatch declined 7.3 percent and primarily reflected lower spending in the financial, medical and furniture store categories. Retail revenues for the Community newspaper group declined 2.2 percent.

Classified advertising revenues decreased $290,000, or 1.7 percent. The company's results included solid growth in real estate advertising, further spending reductions in the automotive category, and a recent softening of help-wanted advertising in line with a deceleration in job growth in the U.S. Including online revenues, total Classified advertising decreased only 1 percent in September. At The Tampa Tribune, Classified revenues declined 2.8 percent. At the Winston-Salem Journal, Classified revenues were down 6.8 percent, while the Richmond Times-Dispatch was even with last year. For the Community newspaper group, Classified revenues increased 1.5 percent.

At the company's three metro newspapers, real estate linage increased 11.5 percent. The Tampa Tribune, which continued to benefit from a strong new- housing market in the region, generated a 13.5 percent increase in real estate Classifieds. The Richmond Times-Dispatch and the Winston-Salem Journal reported real estate advertising linage increases of approximately 10 percent each.

Employment linage at the three metros declined 14 percent. The Tampa Tribune's help-wanted Classifieds decreased 33.8 percent and the Richmond Times-Dispatch was down 7.1 percent. Running counter to trend, the Winston- Salem Journal generated a 9.8 percent increase in help-wanted linage, which resulted from higher volumes from local advertisers. Automotive linage for the three metros declined 26.3 percent for the month and reflected further spending restraint by automotive dealers.

National revenues declined $280,000, or 8.2 percent. At the Winston-Salem Journal, revenues increased 15.1 percent, due to higher spending in the telecommunications and travel categories. The Tampa Tribune reported a decline of 8.8 percent, which mostly reflected decreases in the telecommunications and automotive categories, and at the Richmond Times-Dispatch, National revenues declined 13.3 percent, from reduced telecommunications advertising.

While Circulation revenues declined $380,000, or 5.9 percent, approximately 60 percent of the decrease was the result of eliminating subsidies to independent carriers at several newspapers. Excluding this impact, Circulation revenues declined only 2.4 percent. Six Media General newspapers generated increases in net-paid Daily Circulation and nine did so for Sunday, but overall volume for the month decreased.

In the Broadcast Division, gross time sales increased $13.9 million, or 65.6 percent, including the Company's four new NBC stations. Excluding the new stations, gross time sales increased 12.1 percent.

Local time sales increased $4.4 million, or 31.8 percent, including the new stations. Excluding these stations, Local time sales decreased 1.3 percent. Higher spending in furniture and services was offset by decreases in the corporate and financial categories.

National time sales increased $2.9 million, or 40 percent, including the new stations. Excluding these stations, National time sales decreased 6 percent. Increases in automotive and media advertising were offset by lower spending in the telecommunications and corporate categories.

Total Political revenues of $6.8 million compared with $190,000 last September, and were driven by gubernatorial races in Rhode Island, Florida and Ohio and by U.S. Senate campaigns in Rhode Island, Ohio, Florida and Tennessee, augmented by issue spending in Rhode Island, Florida and Ohio. Political revenues included $3.5 million from the four new NBC stations.

Interactive Media Division revenue growth reflected increased advertiser spending and new products in all categories. Total online advertising grew 33.8 percent. The greatest contributor to growth was increased online Classified advertising, up 10.8 percent. Local advertising increased 71 percent, and National/Regional advertising more than doubled, as a result of campaigns with national agencies across multiple Web sites. Revenues from Media General's Blockdot advergaming business more than doubled from new products and new advertisers. Page views and visitor sessions for September rose more than 25 percent each, including the new stations' Web sites.

About Media General

Media General is a multimedia 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 150 weekly newspapers and other publications. The company's broadcasting assets currently include 26 network- affiliated television stations that reach more than 33 percent of the television households in the Southeast and nearly 10 percent of those in the United States. The company's interactive media assets include more than 75 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.

MEDIA GENERAL INC.
Revenues and Page Views

September
2006 2005 % Change

Revenues (000) $79,499 $68,097 16.7 %
Publishing 44,433 45,740 (2.9)%
Broadcast 32,989 21,110 56.3 %
Interactive Media 2,406 1,652 45.6 %
Eliminations (329) (405) 18.8 %

Discontinued Operations(1) 3,632 3,292 10.3 %

Selected Publishing Revenues (000)
By Category
Advertising $37,413 $38,339 (2.4)%
Classified 16,465 16,750 (1.7)%
Retail 17,222 17,553 (1.9)%
National 3,090 3,366 (8.2)%
Other 636 670 (5.1)%
Circulation 6,060 6,437 (5.9)%
By Property
Richmond 10,641 11,240 (5.3)%
Tampa 14,149 14,599 (3.1)%
Winston-Salem 4,202 4,134 1.6 %
Community Newspapers 15,237 15,508 (1.7)%

Advertising Revenues (000)(2)
Richmond $8,463 $8,854 (4.4)%
Tampa 12,900 13,314 (3.1)%
Winston-Salem 3,373 3,338 1.0 %
Community Newspapers 12,275 12,419 (1.2)%

Broadcast Time Sales (gross) (000) $35,028 $21,148 65.6 %
Local 18,223 13,826 31.8 %
National 9,982 7,130 40.0 %
Political 6,823 192 ---

Selected Online Total Page Views
TBO.com 18,491,988 18,624,758 (0.7)%
(Tampa, Fla.)
TimesDispatch.com 9,823,843 9,587,938 2.5 %
(Richmond, Va.)
JournalNow.com 3,757,331 3,788,167 (0.8)%
(Winston-Salem, N.C.)

Notes: All data are subject to later adjustment.
(1) Revenues from certain broadcast and interactive media operations that
the Company is divesting.
(2) Amounts reflected included both daily and weekly newspapers.

MEDIA GENERAL INC.
Revenues and Page Views
Year-to-Date
2006 2005 % Change

Revenues (000) $688,493 $642,481 7.2 %
Publishing 439,928 431,993 1.8 %
Broadcast 233,176 199,303 17.0 %
Interactive Media 20,039 14,671 36.6 %
Eliminations (4,650) (3,486) (33.4)%

Discontinued Operations(1) 30,513 29,966 1.8 %

Selected Publishing Revenues (000)
By Category
Advertising $369,021 $358,511 2.9 %
Classified 167,995 158,636 5.9 %
Retail 164,652 161,175 2.2 %
National 30,768 33,177 (7.3)%
Other 5,606 5,523 1.5 %
Circulation 60,697 64,054 (5.2)%
By Property
Richmond 103,592 103,312 0.3 %
Tampa 146,147 140,124 4.3 %
Winston-Salem 39,943 39,571 0.9 %
Community Newspapers 148,659 147,303 0.9 %

Advertising Revenues (000)(2)
Richmond $81,604 $80,097 1.9 %
Tampa 132,501 126,381 4.8 %
Winston-Salem 31,972 31,885 0.3 %
Community Newspapers 119,649 117,568 1.8 %

Broadcast Time Sales (gross) (000) $238,653 $196,475 21.5 %
Local 143,804 129,084 11.4 %
National 79,066 66,183 19.5 %
Political 15,783 1,208 ---

Selected Online Total Page Views
TBO.com 160,888,294 171,001,782 (5.9)%
(Tampa, Fla.)
TimesDispatch.com 96,359,299 79,273,877 21.6 %
(Richmond, Va.)
JournalNow.com 32,765,540 33,112,967 (1.0)%
(Winston-Salem, N.C.)

Notes: All data are subject to later adjustment.
(1) Revenues from certain broadcast and interactive media operations that
the Company is divesting.
(2) Amounts reflected included both daily and weekly newspapers.

MEDIA GENERAL INC.
Daily Newspapers Advertising Linage*

September
2006 2005 % Change
Richmond Times-Dispatch
Retail 29,986 32,664 (8.2)%
National 8,103 9,822 (17.5)%
Classified 62,936 72,737 (13.5)%
Total 101,025 115,223 (12.3)%
Tampa Tribune
Retail 39,037 41,400 (5.7)%
National 9,548 14,528 (34.3)%
Classified 113,916 129,720 (12.2)%
Total 162,501 185,648 (12.5)%
Winston-Salem Journal
Retail 34,065 33,647 1.2 %
National 7,110 5,845 21.6 %
Classified 52,151 56,669 (8.0)%
Total 93,326 96,161 (2.9)%
Community & Associates Dailies
Retail 286,846 317,352 (9.6)%
National 17,332 25,555 (32.2)%
Classified 382,241 420,609 (9.1)%
Total 686,419 763,516 (10.1)%
Media General Dailies Total
Retail 389,934 425,063 (8.3)%
National 42,093 55,750 (24.5)%
Classified 611,244 679,735 (10.1)%
Total 1,043,271 1,160,548 (10.1)%

* Advertising is in column inches -- full run only

MEDIA GENERAL INC.
Daily Newspapers Advertising Linage*

Year-to-Date
2006 2005 % Change
Richmond Times-Dispatch
Retail 282,149 278,508 1.3 %
National 84,588 92,319 (8.4)%
Classified 649,073 699,946 (7.3)%
Total 1,015,810 1,070,773 (5.1)%
Tampa Tribune
Retail 394,185 402,778 (2.1)%
National 114,497 138,224 (17.2)%
Classified 1,232,977 1,245,296 (1.0)%
Total 1,741,659 1,786,298 (2.5)%
Winston-Salem Journal
Retail 319,068 320,923 (0.6)%
National 70,353 77,161 (8.8)%
Classified 519,687 562,693 (7.6)%
Total 909,108 960,777 (5.4)%
Community & Associates Dailies
Retail 2,983,037 2,946,909 1.2 %
National 177,565 262,061 (32.2)%
Classified 4,067,486 4,085,417 (0.4)%
Total 7,228,088 7,294,387 (0.9)%
Media General Dailies Total
Retail 3,978,439 3,949,118 0.7 %
National 447,003 569,765 (21.5)%
Classified 6,469,223 6,593,352 (1.9)%
Total 10,894,665 11,112,235 (2.0)%

* Advertising is in column inches - full run only

First Call Analyst:
FCMN Contact: etucker@mediageneral.com

Source: Media General

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

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

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