FOR IMMEDIATE RELEASE
Friday, October 15 , 2004

Media General Reports September Revenues

RICHMOND , Va. – Media General, Inc. (NYSE: MEG) today reported September 2004 revenues of $69.2 million, a 3.9 percent increase compared with $66.6 million in September 2003. Publishing Division total revenues increased 3.4 percent, Broadcast Division total revenues rose 4.2 percent, and Interactive Media Division revenues were up 33.8 percent.

Media General’s September results were impacted by several hurricanes and tropical storms. The company estimates that these storms led to more than $1 million of lost revenues at the company’s newspapers, television stations and online enterprises in Florida and Alabama.

For the month, newspaper advertising revenues increased $1.3 million, or 3.7 percent, compared with last year. When online revenues from Media General’s newspaper Web sites are included, as they are by many peer companies, total publishing revenues increased 3.8 percent for the month and newspaper advertising revenues rose 4.2 percent.

In the company’s newspaper business, the hurricanes had the greatest impact on Classified advertising revenue because the storms largely hit on weekends when Classified advertising is typically most robust. For the month of September, Classified revenues increased $618,000, or 4.5 percent, over last year, a lower growth rate compared to the past several months. However, excluding results from the Tampa and Alabama newspapers, Classified revenues for the month were up 13 percent. Employment linage for the company’s three metropolitan newspapers in September increased 3.7 percent, including a 13 percent decrease at The Tampa Tribune and a 20 percent increase at Richmond Times-Dispatch, while the Winston-Salem Journal’s results were even with last year. Classified results were generally enhanced by higher automotive advertising at the three metros, up 6.8 percent, driven by strong results in Richmond.

Retail ROP revenues declined $109,000 or 1 percent against a very strong September 2003 when the Richmond Times-Dispatch experienced a significant amount of one-time advertising related to the grand opening of two new upscale shopping malls. Consequently, Richmond September retail revenues were 15 percent below last year. The Florida newspapers, including The Tampa Tribune, were ahead of last year by nearly 11 percent, from gains in the financial, insurance and home furnishings categories.

National ROP revenues declined $59,000, or 2.1 percent. The Florida newspapers experienced lower travel, financial and medical advertising, while telecommunications and automotive advertising increased. The Richmond Times-Dispatch was below last year due primarily to the absence of the significant insurance advertising that followed Hurricane Isabel in September 2003.

Preprint revenues were up$349,000, or 5.7 percent, and nearly every newspaper reported gains. Combined Retail ROP and retail preprint revenues were $150,000, or 1 percent, higher than last year. Combined National ROP and National preprint revenues were $10,000, or slightly above last year.

Circulation revenues increased $86,000, or 1.3 percent.

In the Broadcast Division, gross time sales increased $1.9 million, or 8 percent, reflecting very strong political advertising.

Political revenues for the month were $3.5 million compared with $1.2 million in 2003.Most of the political dollars in September were derived from U.S. Senate races in Florida, South Carolina and North Carolina; presidential campaign advertising in Florida, Alabama and Iowa; and issue spending in Florida.

Local time sales increased $312,000, or 2.3%, reflecting gains in services and furniture advertising that more than offset declines in the automotive, financial, and telecommunications categories.

National time sales decreased by $715,000, or 8.5 percent, due to declines in the corporate, drug store and entertainment categories, offsetting gains in fast food and services advertising.

Interactive Media Division revenues increased 33.8 percent to $1.1 million, driven by a nearly 40 percent increase in Classified advertising. Several Media General Web sites achieved a record number of unique visitors for the month as they served viewer’s needs for hurricane and weather information. Tampa Bay Online served approximately 3.3 million unique visitors for the month compared with 1.7 million unique visitors in September 2003.

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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