FOR IMMEDIATE RELEASE
Tuesday, March 18, 2003

Media General Reports February Revenues

RICHMOND, Va. – Media General, Inc. (NYSE: MEG) today reported February 2003 revenues of $63.2 million, a 0.7 percent decrease from last February's revenues of $63.7 million. Publishing revenues increased 0.2 percent, Broadcast revenues declined 3.5 percent, and Interactive Media revenues increased 37.9 percent.

"Media General experienced a softening in publishing and broadcast advertising revenues in February as a result of geopolitical concerns and an already weakened economy," said J. Stewart Bryan III, chairman and chief executive. "In addition, our February 2002 revenues included $3.4 million from advertising for the Winter Olympics on our five NBC stations, which did not repeat in 2003.

"In light of current conditions and the expectation that ad trends will remain under pressure until the current uncertainty is resolved, we have restored special cost control measures such as a freeze on non-essential hiring and aggressive management of discretionary spending," Bryan said.

Newspaper advertising revenue was ahead of last year by 0.4 percent. Bad weather for a significant number of days in Virginia and North Carolina during the month had an unfavorable impact on sales. Retail revenue was $200,000, or 1.9 percent, below February 2002, the result of weakness in the community markets. Preprint revenue was $340,000, or 5.9 percent, above last year, with most of the increase occurring in the metropolitan markets.

Classified revenue was $60,000, or 0.5 percent, above last year. Soft employment linage continues to adversely impact the classified category. Help wanted linage at the three metropolitan newspapers was 11.9 percent below last year and was partially offset by automotive linage that increased 13.7 percent. Employment classified shortfalls were 17.1 percent in Richmond, 7.3 percent in Tampa and 8.9 percent in Winston-Salem.

National revenue was below February 2002 by $240,000, or 9.4 percent, primarily due to declines in the metropolitan markets. The largest shortfall occurred in Tampa and was primarily due to soft travel advertising. In Richmond, softness in the entertainment and medical categories was partially offset by strong telecommunications sales. Winston-Salem's weakness in telecommunications was partially offset by robust automotive advertising.

Circulation revenue was essentially even with the prior year. The Tampa Tribune saw the largest increase, at 4.7 percent, as a result of growth plans. The Richmond Times-Dispatch experienced soft single copy sales during the month as the result of inclement weather.

Broadcast gross time sales decreased $750,000, or 3.6 percent, from last year. Excluding the $3.4 million in revenues generated by the Winter Olympics in 2002, time sales grew 15 percent in February. The Broadcast Division also had political revenues of $130,000, mostly due to mayoral elections in Tampa and Wichita, pushing that category ahead of last year by 3.8 percent.

Local time sales decreased 1.7 percent, reflecting declining revenues from automotive, department store, fast food and food products advertisers, partially offset by higher revenues from furniture, health care, service and entertainment billings. National time sales decreased 7.1 percent, reflecting lower spending in the fast food, grocery and specialty store categories, partially offset by greater spending in the corporate, utilities, financial and department store categories.

Most of the Interactive Media division's $1.1 million February revenue continued to come from classified upsell arrangements with Media General newspapers.

Outlook
Media General currently expects first-quarter earnings per share to be at the low end of its previously issued guidance of 32-35 cents. This includes a gain of 16 cents per share from Media General's sale of its Hoover's stock to Dun & Bradstreet, which was completed in March.

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.