Media General Reports December 2006 Revenues

Media General Reports December 2006 Revenues

RICHMOND, Va., Jan. 31 /PRNewswire-FirstCall/ -- Media General, Inc. (NYSE:MEG) today reported December 2006 total revenues of $92.8 million, a 32.6 percent increase from December 2005. The 2006 results included the benefit of four new NBC television stations, acquired June 26, 2006, and five weeks in the 2006 fiscal month compared with four weeks in December 2005.

Excluding the new stations, total revenues increased 20.5 percent. The company estimates that the additional week in 2006 contributed an estimated $18.5 million in revenues. Excluding both the new stations and the additional week from December 2006, total revenues for the month decreased 3.7 percent.

In the Publishing Division, total revenues increased 18.2 percent. Excluding the additional week in December 2006, total revenues declined approximately 4.8 percent.

Retail advertising revenues increased $4.3 million, or 21.1 percent, mostly reflecting the additional week in December 2006 and higher spending in selected categories in various markets. The Tampa Tribune and its associated daily newspapers generated a 23.6 percent increase in Retail advertising, including higher spending in the department store and drug store categories. Retail revenues at the Richmond Times-Dispatch increased 24.3 percent, including higher spending in the utility, jewelry store and medical categories. Retail revenues for the Winston-Salem Journal were up 12.2 percent, including higher spending in the medical and sporting goods categories. Retail revenues for the Community newspaper group rose 19.6 percent, including strong growth in new revenue initiatives.

Classified advertising revenues increased $1.4 million, or 10.7 percent, including the extra week. At the Richmond Times-Dispatch and Winston-Salem Journal, Classified revenues increased 28.9 percent and 15 percent, respectively, while The Tampa Tribune reported a 6.6 percent decline. The Community newspaper group reported a 17.8 percent increase.

Employment linage at the three metros declined 4.5 percent. The Tampa Tribune experienced a 22.8 percent decrease in help-wanted linage, while the Richmond Times-Dispatch and Winston-Salem Journal generated increases of 1.6 percent and 19.5 percent, respectively.

Automotive linage for the three metros increased 12.8 percent for the month, partly due to special year-end packages provided to automotive dealers.

Real estate classified linage for the three metro newspapers decreased 14.8 percent, and was strongly impacted by the soft housing market in Tampa where The Tampa Tribune's real estate linage decreased 36.8 percent from the prior-year's strong performance. The Richmond Times-Dispatch and the Winston- Salem Journal reported increases in real estate linage of 15.9 percent and 3.8 percent, respectively.

National revenues increased $1.3 million, or 32.9 percent, including the extra week. The Tampa Tribune and its associated daily newspapers generated a 44 percent increase, including higher spending in the telecommunications and pharmaceutical categories. National revenues at the Richmond Times-Dispatch increased 11.9 percent, including higher preprints. The Winston-Salem Journal reported a 9.3 percent increase, due to increased automotive advertising.

Circulation revenues increased $1.1 million, or 16.9 percent, reflecting the additional week. Irrespective of the fifth week in December, five Media General newspapers, including the Richmond Times-Dispatch, generated increases in net-paid Daily Circulation.

In the Broadcast Division, total revenues increased 62.8 percent, including the new stations and the additional week. Same-store Broadcast revenues increased 25.1 percent.

Gross time sales increased $15.3 million, or 70.7 percent, including the new stations, and they increased 25.4 percent on a same-store basis.

Total Local time sales increased $7.8 million, or 53.4 percent. Same-store Local time sales increased 16.9 percent, reflecting the additional week and higher spending in the automotive, services and telecommunications categories.

Total National time sales increased $7.2 million, or 101.3 percent. Same- store National time sales increased 42.1 percent, due to the additional week and increased automotive and telecommunications advertising.

Political advertising in the month was nominal.

Interactive Media Division total revenues rose 27.8 percent, including the new NBC station Web sites. Local revenues increased 40.4 percent, reflecting strong banner advertising driven by increased and improved sales resources. National/Regional advertising nearly doubled, due to strong growth in volume and pricing. Classified revenues increased 10 percent compared with last December. This moderated growth, compared with earlier months in 2006, reflected the softness in newspaper Classified advertising, much of which is upsold to the company's Web sites. Page views and visitor sessions rose 22 percent and 32 percent, respectively, including the new NBC station 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 include 23 network-affiliated television stations that reach more than 32 percent of the television households in the Southeast and nearly 9.5 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

December
2006 2005
(5 Weeks) (4 Weeks) % Change

Revenues (000) $ 92,811 $ 69,986 32.6 %
Publishing 54,519 46,132 18.2 %
Broadcast 36,748 22,573 62.8 %
Interactive Media 2,100 1,643 27.8 %
Eliminations (556) (362) (53.6)%

Discontinued Operations(1) - 3,273 (100.0)%

Selected Publishing Revenues (000)
By Category
Advertising $ 45,841 $ 38,713 18.4 %
Classified 14,691 13,273 10.7 %
Retail 24,632 20,335 21.1 %
National 5,377 4,047 32.9 %
Other 1,141 1,058 7.8 %
Circulation 7,550 6,460 16.9 %
By Property
Richmond 12,655 10,277 23.1 %
Tampa 17,326 15,055 15.1 %
Winston-Salem 5,106 4,473 14.2 %
Community Newspapers 19,102 16,039 19.1 %

Advertising Revenues (000)(2)
Richmond $ 9,965 $ 8,003 24.5 %
Tampa 15,734 13,628 15.5 %
Winston-Salem 4,092 3,653 12.0 %
Community Newspapers 15,510 12,988 19.4 %

Broadcast Time Sales (gross) (000) $ 37,136 $ 21,758 70.7 %
Local 22,530 14,689 53.4 %
National 14,222 7,065 101.3 %
Political 384 4 ---

Selected Online Total Page Views
TBO.com 14,335,261 16,698,444 (14.2)%
(Tampa, Fla.)
TimesDispatch.com 9,303,120 8,467,655 9.9 %
(Richmond, Va.)
JournalNow.com 3,181,553 3,372,323 (5.7)%
(Winston-Salem, N.C.)

Year-to-Date
2006 2005
(53 weeks) (52 weeks) % Change

Revenues (000) $ 983,189 $ 876,377 12.2 %
Publishing 601,144 587,849 2.3 %
Broadcast 361,472 272,875 32.5 %
Interactive Media 27,179 20,415 33.1 %
Eliminations (6,606) (4,762) (38.7)%

Discontinued Operations(1) 32,078 41,560 (22.8)%

Selected Publishing Revenues (000)
By Category
Advertising $ 505,426 $ 489,948 3.2 %
Classified 219,196 209,964 4.4 %
Retail 234,845 226,471 3.7 %
National 43,317 45,541 (4.9)%
Other 8,068 7,972 1.2 %
Circulation 81,885 85,101 (3.8)%
By Property
Richmond 141,709 138,970 2.0 %
Tampa 197,398 191,987 2.8 %
Winston-Salem 55,105 54,307 1.5 %
Community Newspapers 204,495 200,104 2.2 %

Advertising Revenues (000)(2)
Richmond $ 112,041 $ 108,119 3.6 %
Tampa 179,103 173,676 3.1 %
Winston-Salem 44,288 43,945 0.8 %
Community Newspapers 165,281 160,368 3.1 %

Broadcast Time Sales (gross) (000) $ 374,712 $ 270,374 38.6 %
Local 207,932 178,333 16.6 %
National 116,704 90,060 29.6 %
Political 50,076 1,981 ---

Selected Online Total Page Views
TBO.com 206,583,416 228,815,803 (9.7)%
(Tampa, Fla.)
TimesDispatch.com 126,267,976 106,937,752 18.1 %
(Richmond, Va.)
JournalNow.com 43,538,915 43,929,947 (0.9)%
(Winston-Salem, N.C.)

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

MEDIA GENERAL INC.
Daily Newspapers Advertising Linage*

December
2006 2005
(5 Weeks) (4 Weeks) % Change
Richmond Times-Dispatch
Retail 36,286 30,885 17.5 %
National 11,692 9,715 20.3 %
Classified 61,962 50,895 21.7 %
Total 109,940 91,495 20.2 %

Tampa Tribune
Retail 63,631 49,010 29.8 %
National 20,588 17,072 20.6 %
Classified 108,652 116,950 (7.1)%
Total 192,871 183,032 5.4 %

Winston-Salem Journal
Retail 42,090 41,994 0.2 %
National 9,533 8,217 16.0 %
Classified 49,092 46,471 5.6 %
Total 100,715 96,682 4.2 %

Community Dailies
Retail 419,997 354,914 18.3 %
National 41,526 28,915 43.6 %
Classified 430,053 345,950 24.3 %
Total 891,576 729,779 22.2 %

Media General Dailies Total
Retail 562,004 476,803 17.9 %
National 83,339 63,919 30.4 %
Classified 649,759 560,266 16.0 %
Total 1,295,102 1,100,988 17.6 %

Year-to-Date
2006 2005
(53 weeks) (52 weeks) % Change
Richmond Times-Dispatch
Retail 389,417 379,846 2.5 %
National 115,900 123,406 (6.1)%
Classified 852,524 898,985 (5.2)%
Total 1,357,841 1,402,237 (3.2)%

Tampa Tribune
Retail 565,331 559,827 1.0 %
National 158,094 186,811 (15.4)%
Classified 1,596,977 1,653,673 (3.4)%
Total 2,320,402 2,400,311 (3.3)%

Winston-Salem Journal
Retail 442,466 445,451 (0.7)%
National 97,600 104,856 (6.9)%
Classified 687,141 734,889 (6.5)%
Total 1,227,207 1,285,196 (4.5)%

Community Dailies
Retail 4,211,360 4,074,576 3.4 %
National 272,773 348,336 (21.7)%
Classified 5,402,083 5,314,619 1.6 %
Total 9,886,216 9,737,531 1.5 %

Media General Dailies Total
Retail 5,608,574 5,459,700 2.7 %
National 644,367 763,409 (15.6)%
Classified 8,538,725 8,602,166 (0.7)%
Total 14,791,666 14,825,275 (0.2)%

* Advertising is in column inches - full run only

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

Source: Media General, Inc.

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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