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March 31, 2015


Richmond, VA – Media General, Inc. (the "Company") (NYSE:MEG) announced today that one of its stockholders has agreed to sell 6,800,000 shares of the Company's voting common stock in a registered underwritten secondary public offering at a price of $16.00 per share. The selling stockholder also granted the underwriters a 30-day option to purchase up to an additional 1,020,000 shares of voting common stock from the selling stockholder. The Company will not receive any of the proceeds of this offering. The offering is expected to close on April 7, 2015, subject to customary closing conditions.

RBC Capital Markets is acting as the book running manager of the offering. Evercore ISI is also acting as a book runner.

An automatic shelf registration statement relating to these securities was filed on January 30, 2014 with the Securities and Exchange Commission (the SEC) and became effective upon such filing and was amended by an automatically effective post-effective amendment on March 30, 2015. The offering was made only by means of a prospectus and related prospectus supplement, copies of which may be obtained from RBC Capital Markets, LLC, Attn: Prospectus Department, 200 Vesey Street, 8th Floor, New York, NY 10281 (or 1-877-822-4089) or Evercore Group L.L.C., Attn: Equity Capital Markets, 55 East 52nd Street, 36th Floor, New York, NY 10055 or (212-653-9054).

This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any state or jurisdiction.

Forward-Looking Statements

The information discussed in this press release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934. The Company based these forward-looking statements on its current assumptions, knowledge, estimates and projections about factors that could affect its future operations. Although the Company believes that its assumptions made in connection with the forward-looking statements are reasonable, no assurances can be given that those assumptions and expectations will prove to be correct. These forward-looking statements are subject to various risks, uncertainties and assumptions which may cause these expectations and assumptions not to occur or to differ materially from those outcomes projected in the forward-looking statements. Certain such risks and uncertainties are discussed in the Company's Annual Report on Form 10-K and other filings made with the SEC. The forward-looking statements included in this release are made only as of the date of this release and the Company undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless otherwise required to by applicable law.

About Media General

Media General is one of the nation's largest cross-screen, multimedia companies that operates or services 71 television stations in 48 markets along with the industry's leading digital media business. We offer consumers and advertisers premium quality entertainment and information, content and distribution on every screen. Our robust portfolio of broadcast, digital and mobile products informs and engages 23% of U.S. TV households and 46% of the U.S. Internet audience.

Media General has the industry's largest and most diverse digital media business with a growing portfolio that includes LIN Digital, LIN Mobile, Federated Media, HYFN, Dedicated Media and BiteSizeTV. With unmatched local-to-national reach and integrated marketing solutions, Media General is a one-stop-shop for agencies and brands that want to effectively and efficiently reach their target audiences across all screens.

Courtney Guertin
Director, Marketing & Communications