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Wednesday, January 31, 2007

Media General Board Increases Dividend

RICHMOND, Va. – The Board of Directors of Media General (NYSE: MEG) today increased the company’s quarterly dividend by 5 percent from 22 cents per common share to 23 cents per common share. The dividend is payable on March 15, 2007, to Class A and Class B shareholders of record on February 28, 2007.

“Today’s dividend increase reflects Media General’s strong cash flow and financial position and reinforces its commitment to building shareholder value,” said Marshall N. Morton, president and chief executive officer.

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.

Investor Contact:
Lou Anne Nabhan
(804) 649-6103

Media Contact:
Ray Kozakewicz
(804) 649-6748