Media General Shows Publishing Progress

  • October 18, 2002
Media General, which owns the Winston-Salem Journal and 22 other daily newspapers said its Publishing segment revenues declined 2.1% for the third quarter, showing “directional improvement” compared to the first and second quarters of this year when the declines were 5.9% and 3.9%, respectively. The retail category showed the sharpest decline for the quarter, down 8.3%, and reflected slow sales across all newspapers and all sectors. Classified revenues were down 2.2%. Publishing segment profits of $27.5 million were 2% lower than the $28.1 million posted in last year's third quarter. Total revenues in the broadcast division increased 16.8% in the third quarter of 2002, and gross time sales increased 27%, or $15.1 million. The increase in time sales included $8.2 million in political revenues and $6.9 million in local and national transactional billings. The automotive, services and entertainment sectors showed double-digit growth.
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