Trending Up: Media General Revs Up 12%

As other TV station groups have reported, Media General has been bolstered by stronger financial results in the first quarter, due to improved advertising sales.

Media General tallied a $19.4 million operating profit for its TV business versus a $780,000 loss a year ago. Executives say stronger ad revenues from the Winter Olympics, March Madness and political spending accounted for the rise.

Broadcast revenues saw a 12.1% gain to $67.1 million, with local advertising and and national advertising revenues rising 12.1% and 13.1%, respectively. Better still, cable/satellite retransmission revenues rose 27.5%.

Media General's publishing businesses still struggled, decreasing 9.4% in revenues from the prior year, but improving from a 14% decline in the fourth quarter of 2009. Publishing revenues were at $81.3 million for the period.

Overall, Media General's revenues at $158.9 million were essentially even with last year. It had an operating income of $8.7 million versus a $11.6 million operating loss in the first quarter of 2009.

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Media General had a net loss of $16.8 million, trimming back from a $21.3 million net loss in the previous first-quarter period. Just as other TV stations groups have done, Media General benefited by lower costs: a 12% cut versus a year ago.

Another bright spot: digital media revenues rose 9.8% to $10.5 million, with a 2% gain classified revenues. Local digital revenues were up 23.2% -- this against a decline in national revenues from 2009. Media General said its digital businesses witnessed growth in unique visitors and page views: at 13% and 5%, respectively.

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