Media General’s 18 TV stations helped offset the financial struggles of its 23 newspapers in the first quarter of this year, the company announced today in its quarterly earnings report.
Media General reported $3.2 million of operating income for the first quarter of 2012 compared with an operating loss of $4.2 million for the same period last year. The company’s total revenue for the quarter was $150 million, up 0.
Media General, which owns 18 TV stations as well as 21 daily newspapers, today reported a double-digit decline in fourth quarter revenue. The company’s revenue for the period totaled $168 million–11.7% less than last year’s Q4. The ... Read Post
Associated Press The newspaper publisher and TV station owner earned $20.6 million in the second quarter. Layoffs, furloughs and other cuts helped Media General trim operating costs by 23%. Revenue dropped 20% in 2Q, while ad revenu... Read Post