FOR IMMEDIATE RELEASE
Thursday, April 15, 2004

Media General Reports March Revenues

RICHMOND, Va. – Media General, Inc. (NYSE: MEG) today reported March 2004 revenues of $68.5 million, a 7.4 percent increase compared with revenues of $63.8 million in March 2003. Publishing revenues increased 6.2 percent, Broadcast revenues rose 8.8 percent, and Interactive Media revenues were up 40.8 percent.

In the Publishing Division, advertising revenue increased by $2.3 million, or 6.7 percent, over the same period last year. March 2004 was an unexpectedly strong month. Retail and preprint revenues included more than expected early Easter advertising. Classified revenues also came in more strongly than anticipated, particularly in the last two weeks of March across all markets, and reflected solid employment revenues.

Classified revenue increased $1.4 million, or 10.4 percent. Primarily driven by employment linage gains, The Richmond Times-Dispatch and The Tampa Tribune both produced higher classified advertising revenues, up 10.7 percent and 9.1 percent, respectively. The Winston-Salem Journal was 1.9 percent above last year. Partially offsetting a 2.4 percent reduction in automotive linage, employment linage at the three metropolitan newspapers was up 6.9 percent over last year. Employment linage at the Richmond Times-Dispatch increased 18 percent, The Tampa Tribune increased 5.7 percent, while the Winston-Salem Journal experienced an 11.9 percent decrease.

Retail revenue rose by 2.3 percent, the first year-over-year increase for this category in 2004, primarily the result of robust advertising in Tampa and Richmond. The Tampa Tribune was up 15 percent over last year, led by the entertainment and financial categories. The Richmond Times-Dispatch was up 6.6 percent due to solid results for building supply and clothing advertising. Department store advertising continued to show softness in both Tampa and Richmond. Preprint revenue increased $470,000, or 7.8 percent. On a combined basis, retail ROP and retail preprints increased from 2003 by $560,000, or 3.5 percent.

National revenue was down slightly from the prior year, due primarily to softness in the Tampa market that was almost entirely offset by gains in the Richmond, Winston-Salem and several community markets. Telecommunications advertising continued to drive the overall revenue performance in the national category. Circulation revenue increased $200,000, or 2.9 percent, principally the result of rate increases at several newspapers, together with circulation gains at Tampa.

If Media General reported print and online publishing revenues on a combined basis, as some peer companies do, total publishing revenues and newspaper advertising revenues for March would have been up 6.5 percent and 7.1 percent, respectively, from last year.

Year-over-year Broadcast gross time sales increased $2.4 million, or 11.4 percent. This higher-than-expected increase was driven by growth in all transactional sales categories, especially political advertising.

Local time sales increased $895,000, or 6.7 percent, led by increases in the automotive, telecommunications, furniture and services categories. National time sales increased $765,000, or 10.4 percent, reflecting higher spending in the automotive, telecommunications and financial categories. Political revenues of $904,000 compared with $180,000 in 2003, and included
presidential campaign spending and issue advertising in Florida, Alabama and Iowa. More than one-half of the month’s political dollars were provided by the company’s Florida television stations, particularly WFLA in Tampa.

In the Interactive Media Division, a 40.8 percent growth in revenues reflected healthy increases in online classified upsell advertising. March revenues were the highest four-week total since the division’s inception in 2001.

About Media General
Media General is an independent communications company situated primarily in the Southeast with interests in newspapers, television stations and interactive media. 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 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.

Investor Contact:
Lou Anne Nabhan
(804) 649-6103
lnabhan@mediageneral.com

Media Contact
Ray Kozakewicz
(804) 649-6748
rkozakewicz@mediageneral.com

Charts follow:
Revenue Report
Ad Linage Summaries

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