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.
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
Media General reported a $78.5 million in station net revenue for the third quarter of 2013, 16.4% drop compared to the year-ago quarter. As with other station groups, the decline was attributed to a drop in both political and Olymp... Read Post