Media General Reports December Revenues

Media General Reports December Revenues RICHMOND, Va., Jan. 27 /PRNewswire-FirstCall/ -- Media General, Inc. (NYSE:MEG) today reported December 2004 revenues of $72.2 million, a 7.7 percent increase from December 2003. On a divisional basis, Publishing revenues increased 5.4 percent, Broadcast revenues rose 10.7 percent, and Interactive Media Division revenues were up 63.3 percent. For the month, newspaper advertising revenues increased $2.3 million, or 6.2 percent, over last year. The Tampa Tribune reported a very strong month, with advertising revenues up 10.6 percent. The community newspaper group had advertising revenue growth of 8.9 percent. When online revenues from Media General's newspaper Web sites are included, total publishing revenues increased 6.1 percent for the month, and newspaper advertising revenues rose 7.1 percent. The strength for the month was mainly in Classified advertising revenues, which increased $1.1 million, or 10.1 percent, over 2003. Including online advertising, the overall increase was 11.8 percent. There were impressive gains in almost every market, driven mostly by help-wanted linage, with The Tampa Tribune posting an increase in Classified revenues of 13.4 percent. Employment linage for the company's three metropolitan newspapers, which typically slows seasonally in December, rose 16.2 percent, including increases of 29 percent at the Richmond Times-Dispatch, 6.8 percent at The Tampa Tribune, and 5.5 percent at the Winston-Salem Journal. Richmond's strong improvement was the result of lower unemployment rates that helped drive healthcare and state and governmental advertising as well as new advertising promotions in this category. Results in automotive linage were mixed as The Tampa Tribune exceeded last year, while the Richmond Times-Dispatch and Winston-Salem Journal reported declines. Real estate classifieds experienced solid gains in many markets, particularly the three metro newspapers. Retail ROP revenues continued to be soft and were about even for the month. The Tampa Tribune reported a 14 percent increase, reflecting strength in the department store and medical categories, as well as Wal-Mart advertising. The Richmond Times-Dispatch was down nearly 3 percent as advertising from the new malls in December 2003 was strong. Media General newspapers in Northern Virginia and Charlottesville also posted gains for the month. Retail, including preprints, exceeded last year by approximately 1 percent. Preprint revenues, which were up $520,000, or 6.4 percent, contributed to the strength of December's overall results. About half of the increase came from The Tampa Tribune, and most other newspapers showed gains as well. National ROP revenues declined $55,000, or 1.7 percent. The shortfall was in Tampa, driven by lower telecommunications advertising, while other markets showed gains in the category. National, including preprints, exceeded last year by 7.8 percent, or $280,000. Circulation revenues were down slightly, mostly the result of volume declines. In the Broadcast Division, gross time sales increased $1 million, or 4.5 percent. Local time sales increased $1.4 million, or 9.8 percent, and reflected gains in the specialty stores, department stores, fast food and services categories that more than offset a decrease in the automotive category. National time sales rose $384,000, or 5.4 percent, due to increases in automotive, corporate and fast food advertising that more than offset declines in the department store and appliance categories. As expected for December of 2004, Political revenues were absent whereas early presidential primary spending in the prior-year quarter generated revenues of $770,000. Interactive Media Division revenues increased 63.3 percent to $1.2 million, driven by a 62 percent increase in Classified advertising, reflecting both rate increases and strong volume growth. Local advertising revenues increased 70 percent. 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, the Richmond Times-Dispatch, and the 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 20 percent interest in The Denver Post and a 33 percent interest in SP Newsprint Company. MEDIA GENERAL INC. Revenues and Page Views December 2004 2003 % Change Revenues (000) $72,167 $67,023 7.7 % Publishing 46,327 43,941 5.4 % Broadcast 25,015 22,607 10.7 % Interactive Media 1,158 709 63.3 % Eliminations (333) (234) (42.3)% Selected Publishing Revenues (000) By Category Advertising $38,439 $36,179 6.2 % Classified 12,373 11,242 10.1 % Retail 11,563 11,575 (0.1)% National 3,114 3,168 (1.7)% Preprints 8,669 8,146 6.4 % Other 2,720 2,048 32.8 % Circulation 6,848 6,883 (0.5)% By Property Richmond 10,950 10,923 0.2 % Tampa 14,874 13,541 9.8 % Winston-Salem 4,494 4,441 1.2 % Community Newspapers 15,798 14,784 6.9 % Advertising Revenues (Dailies) (000) Richmond $8,391 $8,331 0.7 % Tampa 13,463 12,177 10.6 % Winston-Salem 3,669 3,682 (0.4)% Community Newspapers 11,218 10,302 8.9 % Broadcast Time Sales (gross) (000) $22,987 $21,989 4.5 % Local 15,545 14,156 9.8 % National 7,449 7,065 5.4 % Political (7) 768 --- Selected Online Total Page Views TBO.com 15,102,136 12,025,915 25.6 % (Tampa, Fla.) timesdispatch.com 6,902,525 4,942,553 39.7 % (Richmond, Va.) JournalNow.com 2,880,611 2,471,579 16.5 % (Winston-Salem, N.C.) MEDIA GENERAL INC. Revenues and Page Views Year-to-Date 2004 2003 % Change Revenues (000) $900,420 $837,423 7.5 % Publishing 566,487 544,059 4.1 % Broadcast 323,653 286,233 13.1 % Interactive Media 13,920 9,663 44.1 % Eliminations (3,640) (2,532) (43.8)% Selected Publishing Revenues (000) By Category Advertising $465,239 $445,107 4.5 % Classified 185,193 170,679 8.5 % Retail 132,813 133,777 (0.7)% National 33,649 34,412 (2.2)% Preprints 86,759 84,039 3.2 % Other 26,825 22,200 20.8 % Circulation 89,025 87,355 1.9 % By Property Richmond 137,851 134,644 2.4 % Tampa 178,681 169,950 5.1 % Winston-Salem 53,771 53,644 0.2 % Community Newspapers 193,959 183,852 5.5 % Advertising Revenues (Dailies) (000) Richmond $104,862 102,179 2.6 % Tampa 160,735 153,222 4.9 % Winston-Salem 43,725 43,544 0.4 % Community Newspapers 134,327 125,744 6.8 % Broadcast Time Sales (gross) (000) $323,608 $282,647 14.5 % Local 183,529 173,919 5.5 % National 102,423 101,511 0.9 % Political 37,656 7,217 --- Selected Online Total Page Views TBO.com 231,493,016 160,550,724 44.2 % (Tampa, Fla.) timesdispatch.com 81,767,495 75,529,011 8.3 % (Richmond, Va.) JournalNow.com 35,147,735 30,342,005 15.8 % (Winston-Salem, N.C.) Notes: All data are subject to later adjustment, excludes discontinued operations. MEDIA GENERAL INC. Daily Newspapers Advertising Linage* December 2004 2003 % Change RICHMOND TIMES-DISPATCH Retail 35,418 38,307 (7.5)% National 11,132 11,703 (4.9)% Classified 56,288 60,075 (6.3)% Total 102,838 110,085 (6.6)% TAMPA TRIBUNE Retail 51,184 45,988 11.3 % National 16,349 17,821 (8.3)% Classified 116,240 111,465 4.3 % Total 183,773 175,274 4.8 % WINSTON-SALEM JOURNAL Retail 39,521 48,876 (19.1)% National 9,618 9,001 6.9 % Classified 47,231 48,975 (3.6)% Total 96,370 106,852 (9.8)% COMMUNITY DAILIES Retail 348,987 375,202 (7.0)% National 30,477 28,124 8.4 % Classified 386,627 406,555 (4.9)% Total 766,091 809,881 (5.4)% MEDIA GENERAL DAILIES TOTAL Retail 475,110 508,373 (6.5)% National 67,576 66,649 1.4 % Classified 606,386 627,070 (3.3)% Total 1,149,072 1,202,092 (4.4)% MEDIA GENERAL INC. Daily Newspapers Advertising Linage* Year-to-Date 2004 2003 % Change RICHMOND TIMES-DISPATCH Retail 409,466 437,052 (6.3)% National 128,879 142,023 (9.3)% Classified 915,432 891,936 2.6 % Total 1,453,777 1,471,011 (1.2)% TAMPA TRIBUNE Retail 543,824 520,203 4.5 % National 184,871 200,863 (8.0)% Classified 1,645,569 1,649,129 (0.2)% Total 2,374,264 2,370,195 0.2 % WINSTON-SALEM JOURNAL Retail 463,189 458,800 1.0 % National 103,136 99,847 3.3 % Classified 726,998 741,061 (1.9)% Total 1,293,323 1,299,708 (0.5)% COMMUNITY DAILIES Retail 4,080,481 4,166,911 (2.1)% National 365,577 343,295 6.5 % Classified 5,551,227 5,199,270 6.8 % Total 9,997,285 9,709,476 3.0 % MEDIA GENERAL DAILIES TOTAL Retail 5,496,960 5,582,966 (1.5)% National 782,463 786,028 (0.5)% Classified 8,839,226 8,481,396 4.2 % Total 15,118,649 14,850,390 1.8 % * Advertising is in column inches -- full run only 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, Inc. Web site: http://www.mediageneral.com/ ------- Profile: International Entertainment