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FOR IMMEDIATE RELEASE
Wednesday, January 31, 2007

Media General Reports December 2006 Revenues

RICHMOND, Va. – Media General, Inc. (NYSE: MEG) today reported December 2006 total revenues of $92.8 million, a 32.6 percent increase from December 2005. The 2006 results included the benefit of four new NBC television stations, acquired June 26, 2006, and five weeks in the 2006 fiscal month compared with four weeks in December 2005. 

Excluding the new stations, total revenues increased 20.5 percent. The company estimates that the additional week in 2006 contributed an estimated $18.5 million in revenues. Excluding both the new stations and the additional week from December 2006, total revenues for the month decreased 3.7 percent. 

In the Publishing Division, total revenues increased 18.2 percent. Excluding the additional week in December 2006, total revenues declined approximately 4.8 percent.

Retail advertising revenues increased $4.3 million, or 21.1 percent, mostly reflecting the additional week in December 2006 and higher spending in selected categories in various markets. The Tampa Tribune and its associated daily newspapers generated a 23.6 percent increase in Retail advertising, including higher spending in the department store and drug store categories. Retail revenues at the Richmond Times-Dispatch increased 24.3 percent, including higher spending in the utility, jewelry store and medical categories. Retail revenues for the Winston-Salem Journal were up 12.2 percent, including higher spending in the medical and sporting goods categories. Retail revenues for the Community newspaper group rose 19.6 percent, including strong growth in new revenue initiatives.

Classified advertising revenues increased $1.4 million, or 10.7 percent, including the extra week. At the Richmond Times-Dispatch and Winston-Salem Journal, Classified revenues increased 28.9 percent and 15 percent, respectively, while The Tampa Tribune reported a 6.6 percent decline. The Community newspaper group reported a 17.8 percent increase.

Employment linage at the three metros declined 4.5 percent. The Tampa Tribune experienced a 22.8 percent decrease in help-wanted linage, while the Richmond Times-Dispatch and Winston-Salem Journal generated increases of 1.6 percent and 19.5 percent, respectively.

Automotive linage for the three metros increased 12.8 percent for the month, partly due to special year-end packages provided to automotive dealers. 

Real estate classified linage for the three metro newspapers decreased 14.8 percent, and was strongly impacted by the soft housing market in Tampa where The Tampa Tribune’s real estate linage decreased 36.8 percent from the prior-year’s strong performance. The Richmond Times-Dispatch and the Winston-Salem Journal reported increases in real estate linage of 15.9 percent and 3.8 percent, respectively.

National revenues increased $1.3 million, or 32.9 percent, including the extra week. The Tampa Tribune and its associated daily newspapers generated a 44 percent increase, including higher spending in the telecommunications and pharmaceutical categories. National revenues at the Richmond Times-Dispatch increased 11.9 percent, including higher preprints. The Winston-Salem Journal reported a 9.3 percent increase, due to increased automotive advertising.

Circulation revenues increased $1.1 million, or 16.9 percent, reflecting the additional week.  Irrespective of the fifth week in December, five Media General newspapers, including the Richmond Times-Dispatch, generated increases in net-paid Daily Circulation.

In the Broadcast Division, total revenues increased 62.8 percent, including the new stations and the additional week.  Same-store Broadcast revenues increased 25.1 percent.

Gross time sales increased $15.3 million, or 70.7 percent, including the new stations, and they increased 25.4 percent on a same-store basis.  

Total Local time sales increased $7.8 million, or 53.4 percent. Same-store Local time sales increased 16.9 percent, reflecting the additional week and higher spending in the automotive, services and telecommunications categories.

Total National time sales increased $7.2 million, or 101.3 percent. Same-store National time sales increased 42.1 percent, due to the additional week and increased automotive and telecommunications advertising.

Political advertising in the month was nominal.

Interactive Media Division total revenues rose 27.8 percent, including the new NBC station Web sites. Local revenues increased 40.4 percent, reflecting strong banner advertising driven by increased and improved sales resources. National/Regional advertising nearly doubled, due to strong growth in volume and pricing. Classified revenues increased 10 percent compared with last December. This moderated growth, compared with earlier months in 2006, reflected the softness in newspaper Classified advertising, much of which is upsold to the company’s Web sites. Page views and visitor sessions rose 22 percent and 32 percent, respectively, including the new NBC station Web sites.

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.

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

Media Contact:
Ray Kozakewicz
(804) 649-6748