FOR IMMEDIATE RELEASE
Tuesday, December 14, 2004

Media General Reports November Revenues

RICHMOND, Va. – Media General, Inc. (NYSE: MEG) today reported November 2004 revenues of $77.1 million, a 6.6 percent increase from November 2003. On a divisional basis, Publishing revenues increased 3 percent, Broadcast revenues rose 12 percent, and Interactive Media Division revenues were up 51.3 percent.

“In November, Classified advertising revenue continued to show solid gains in the Publishing Division. Retail ROP revenue was weak in the month, but Retail preprint advertising was up year-over-year. In the Broadcast Division, there were healthy gains over last year in the fast food, automotive, telecommunications, drug stores and services sectors,” said J. Stewart Bryan III, chairman and chief executive.

For the month, newspaper advertising revenues increased $1.3 million, or 3.2 percent, over last year. When online revenues from Media General’s newspaper Web sites are included, total publishing revenues increased 3.6 percent for the month and newspaper advertising revenues rose 3.9 percent.

Classified revenues increased $1.1 million, or 8.6 percent, over 2003, reflecting continued strength in help-wanted advertising. Including online advertising, Classified revenues were up 10.1 percent over last year. Employment linage for the company’s three metropolitan newspapers in November rose 12.4 percent, including increases of 11.5 percent at The Tampa Tribune, 13.3 percent at the Richmond Times-Dispatch, and 12 percent at the Winston-Salem Journal. Results in automotive linage were mixed as The Tampa Tribune exceeded last year by 8.4 percent, while the Richmond Times-Dispatch and Winston-Salem Journal reported declines. Real estate classifieds were strong in most markets for the month.

Retail ROP revenues were down by $240,000, or 2 percent. The Retail category continued to struggle as a result of lower spending by major advertisers, including department stores. The company’s newspapers in Northern Virginia and Alabama posted strong gains for the month, primarily the result of improved local sales and holiday advertising. Retail preprints exceeded last year by 1.7 percent, driven by the Thanksgiving holiday, the opening of new stores in some markets, increased rates and some migration from ROP. Total Preprint revenues were up $200,000, or 2.3 percent. The majority of the increase came from The Tampa Tribune and its associated Florida dailies, and most community newspapers also reported solid gains.

National ROP revenues decreased $190,000, or 5.6 percent. At The Tampa Tribune, lower automotive advertising was partially offset by increased pharmaceutical and telecommunication advertising. A shortfall at the Richmond Times-Dispatch was primarily due to lower telecommunication advertising. At the Winston-Salem Journal, National revenues increased 35 percent on the strength of pharmaceutical, health insurance and automotive advertising.

Circulation revenues were down slightly, mostly the result of volume declines.

In the Broadcast Division, gross time sales increased $2.3 million, or 9.5 percent. Following two months of heavy Political activity that caused some displacement of Local and National time sales, the division saw a solid return of growth in a broad range of advertising categories. Local time sales, driven by sales initiatives and new business development, increased $930,000, or 6.1 percent, and reflected gains in services, fast food, drug stores, telecommunications and educational advertising that more than offset decreases in the automotive category. National time sales, while somewhat softer than expected, rose $390,000, or 4.5 percent, due to increases in automotive and fast food advertising that more than offset declines in the department store and services categories.

Political revenues were $1.6 million, compared to $624,000 in 2003. The majority of the Political dollars in November were derived from issue advertising in Florida and South Carolina, as well as from U.S. Senate races in Florida, South Carolina and North Carolina.

Interactive Media Division revenues increased 51.3 percent to $1.3 million, driven by a 49.7 percent increase in Classified advertising.

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

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