FOR IMMEDIATE RELEASE
Monday, August 16, 2004

Media General Reports July Revenues

RICHMOND, Va. – Media General, Inc. (NYSE: MEG) today reported July 2004 revenues of $78.5 million, a 7.9 percent increase compared with $72.8 million in July 2003. Publishing Division total revenues increased 5.3 percent, Broadcast Division total revenues rose 12.3 percent, and Interactive Media Division revenues were up 39.5 percent.

“Total revenue growth in July was our strongest monthly gain this year compared to the same 2003 period,” said J. Stewart Bryan III, chairman and chief executive. “Our growth was fueled primarily by higher Political revenues at our television stations and growth in classified employment advertising revenues at our newspapers. We also were pleased to see a return to growth in newspaper Retail advertising and television National time sales,” said Bryan.

In the Publishing Division, newspaper advertising revenue growth in July was the second highest of any month in 2004, increasing $2.3 million, or 5.7 percent, compared with the same period last year. When online revenues from Media General’s newspaper Web sites are included, total publishing revenues grew 6 percent for the month and newspaper advertising revenues rose 6.3 percent.

Classified advertising revenue growth continued to lead all publishing categories and was ahead of last year by $1.4 million, or 8.5 percent. The increase was driven primarily by strong employment linage gains, which for the company’s three metro newspapers increased 16 percent. Employment linage was up 20.2 percent at The Tampa Tribune and 17 percent at the Richmond Times-Dispatch, while results at the Winston-Salem Journal were even with last year. Automotive classified linage in July exceeded last year’s results for the first time in 2004, increasing 1.4 percent at the three metro newspapers.

Retail revenues grew in July by $180,000, or 1.6 percent. The Tampa Tribune and its associated community daily newspapers had an exceptional month, up 10 percent over last year. The gain was attributable to strength in the department store category, along with increases in the restaurant, automotive accessories and health care categories, plus some special sections and back-to-school promotions. The Richmond Times-Dispatch had a gain of 2.2 percent over last year, attributable to advertising by department stores at new local shopping malls and strength in the furniture category.

Preprint revenues were above last year by $465,000, or 6.8 percent, reflecting growth at The Tampa Tribune, the Richmond Times-Dispatch and most other newspapers. Retail ROP and retail preprint revenues combined were $440,000, or 2.5 percent, higher than last year.

National advertising was the only publishing category to show a decline over last year and decreased $80,000, or 2.7 percent. The lower revenues reflected declines from last year in the telecommunications and automotive categories as well as in the travel category in Florida.

Circulation revenues increased $210,000, or 2.6 percent. The higher revenues were primarily due to rate increases in many markets over the last nine to twelve months, as well as circulation volume increases at The Tampa Tribune.

In the Broadcast Division, gross time sales increased $3 million, or 12.7 percent. Except for the division’s exceptionally strong January, which included Super Bowl revenues, the month of July was the strongest for year-over-year revenue growth in 2004.

Political revenues continued a strong growth trend and were $1.6 million for the month compared with $380,000 last year. Higher Political revenues were principally from presidential campaign spending in Florida, North Carolina and South Carolina, as well as U.S. Senate races in Georgia and Florida, state congressional spending in Georgia and Florida, and issue advertising in Georgia, Florida and North Carolina.

The gain in Political revenues was complemented by strong growth in both Local and National time sales. Local time sales grew $1.1 million, or 7.5 percent, led by increases in the services, automotive, entertainment, furniture and telecommunications categories. National time sales increased by $660,000, or 7.8 percent, reflecting increases in the automotive, services, fast food and financial categories, which more than offset declines in drug stores and utility advertising.

Interactive Media Division revenues increased 39.5 percent to $1.3 million, driven by a nearly 52 percent increase in classified advertising and strong growth in the Local advertising category.

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

Media Contact:
Ray Kozakewicz
(804) 649-6748

Charts follow:
Revenue Report
Ad Linage Summaries

(1 of 3)