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Stock Symbol: MEG
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Business Description
Media General, Inc. is a communications company with interests in newspapers, television stations and interactive media, predominantly in the United States. The Company operates in three principal industry segments: Publishing, Broadcast and Interactive Media. As of December 28, 2003, Media General owned 25 daily newspapers and nearly 100 other publications, as well as 26 television stations. It also operates approximately 50 online enterprises. In recent years, the Company has placed emphasis on convergence, combining the strengths of newspapers, television and the Internet. These efforts were initiated in the Tampa market, where The Tampa Tribune, WFLA-TV and TBO.com share the Company's News Center facility and work side by side to provide comprehensive news, information and entertainment in that market. The results of this initial venture led Media General to introduce convergence to five additional markets in the Southeast.
Financial Information
For the 39 weeks ended 9/26/04, revenues rose 6% to $650.7 million. Net income from continuing operations increased 23% to $43.3M. Revenues reflect higher income from Publishing and Interactive Media segments. Earnings also reflect lower investment losses.
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