FOR IMMEDIATE RELEASE
Tuesday, Feb. 18, 2003

Media General Reports January Revenues

RICHMOND, Va. — Media General, Inc. (NYSE: MEG) today reported January 2003 revenues of $70 million, 5.1 percent higher than last January's revenues of $66.6 million. Publishing revenues increased 2.8 percent from January 2002. Broadcast revenues increased 9.5 percent, and Interactive Media revenues grew 34.6 percent.

"We are pleased to report that the improvement in newspaper advertising revenue that began in the fourth quarter of 2002 has continued into 2003. Publishing revenues in January were ahead of the prior year for the fifth month in a row. We saw growth in every category but classified, and national advertising growth exceeded our expectations," said J. Stewart Bryan III, chairman and chief executive.

"In Broadcast, the stronger-than-expected time sales increase that we saw in December continued into January. Advertiser spending was strong despite economic uncertainty and the pending threat of war. Spot increases were driven primarily by gains in the automotive category, up 27 percent. The Super Bowl produced strong ad revenue growth at our three ABC affiliates," said Bryan.

In Publishing, advertising revenue was above last year at the same rate as overall revenues for the division, 2.8 percent. Retail revenue increased by $370,000, or 3.4 percent, the result of strength in the metropolitan markets, especially The Tampa Tribune. The Tribune's gain was associated with the hometown team's Super Bowl victory as well as with strength in the entertainment, department store and financial categories. In Richmond, strong department store linage partially offset softness in the furniture and discount store categories. Preprint revenue was $480,000, or 7.9 percent above last year, with nearly all of the increase occurring in the metropolitan markets on increased volume.

The classified revenue decline was $140,000, or 0.9 percent below last year. Continued weak employment linage caused the shortfall. January employment advertising linage at the three metropolitan papers was 17 percent below last year but was partially offset by a 16.6 percent increase in automotive linage. Employment classified shortfalls were 24.7 percent in Richmond, 14.6 percent in Tampa and 1.9 percent in Winston-Salem.

National revenue was above last year by $220,000, or 8.5 percent, due primarily to strong gains at all three metropolitan dailies. Tampa's increase reflected Super Bowl advertising and increases in the grocery, automotive, entertainment and sporting goods categories. Richmond benefited from strong telecommunications advertising. The Winston-Salem Journal benefited from higher automotive advertising.

Circulation revenue exceeded January 2002 by $280,000, or 3.4 percent. Daily circulation increased over January 2002 in 17 of our 25 markets, and Sunday circulation increased in 19. These increases yielded total daily increases of over 24,000 copies and Sunday increases of over 33,000 copies. Readership initiatives, newspaper redesign, and improved sales and distribution efforts all contributed to these gains.

"We are especially pleased with our circulation growth in Tampa," said Bryan. Compared to January 2002, daily circulation in Tampa was up over 19,000 copies, and Sunday circulation was up over 23,000 copies. "While the Super Bowl had an impact, the circulation growth is also a reflection of initiatives we implemented last fall as well as a continuation of positive trends that began in November and December. The early results of our Tampa growth plan have exceeded our expectations," Bryan said.

Broadcast gross time sales increased $1.9 million, or 9.8 percent, from last January. Local advertising increased 11.1 percent because of strength in the automotive, health care, furniture and hardware categories. National time sales rose 7.3 percent, with particular strength in the automotive, hardware, services and medical categories. Times sales growth was complemented by unanticipated political revenues of $105,000, resulting from a hotly contested mayoral race in Tampa and a state representative runoff in Louisiana. "We anticipate some softening in our Broadcast business for February and March, as ongoing global uncertainties weigh on advertisers," said Bryan.

Interactive Media revenues for January of $1.3 million were the highest monthly total since the division's inception in January 2001. Most of the division's revenue growth continued to come from classified upsell arrangements with Media General newspapers.

About Media General
Media General is an independent communications company situated primarily in the Southeast with interests in newspapers, television stations, interactive media and diversified information services. The company's publishing assets include The Tampa Tribune, the Richmond Times-Dispatch, the Winston-Salem Journal and 22 other daily newspapers in Virginia, North Carolina, Florida, Alabama and South Carolina, as well as nearly 100 other periodicals and a 20 percent interest in The Denver Post. Media General's 26 network-affiliated television stations reach more than 30 percent of the television households in the Southeast, and nearly 8 percent of those in the United States. The company's extensive interactive media offerings include more than 50 online enterprises. Media General also has a 33 percent interest in SP Newsprint Co., which operates newsprint mills in Dublin, Ga., and Newberg, Ore.

Charts follow:
Revenue Report
Ad Linage Summaries

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