FOR IMMEDIATE RELEASE
Tuesday, February 15, 2005

Media General Reports January Revenues

RICHMOND, Va. – Media General, Inc. (NYSE: MEG) today reported January 2005 revenues of $76.8 million, a 2.6 percent increase from January 2004. On a divisional basis, Publishing revenues increased 5.3 percent, Broadcast revenues declined 4.3 percent, and Interactive Media Division revenues were up 50.4 percent.

For the month, newspaper advertising revenues increased $2.7 million, or 7 percent, over last year. When online revenues from Media General’s newspaper Web sites are included, total publishing revenues increased 6 percent for the month and newspaper advertising revenues rose 7.9 percent.

“We are pleased to report that the Publishing Division experienced one of its largest recent year-over-year monthly revenue increases, resulting from another exceptionally strong month for Classified advertising at most newspapers, and a significant contribution from Retail and National advertising. The Tampa Tribune drove our strong performance for the month, reporting healthy increases in most advertising categories. In the Broadcast Division, the decline in revenues, as expected, was the result of the near absence of the Political and Super Bowl advertising dollars that we enjoyed last year,” said J. Stewart Bryan III, chairman and chief executive.

Starting in January 2005, preprint revenue will no longer be broken out separately. Instead preprint revenue will be classified, both for the current and prior periods, into the applicable Retail, National or Classified category. When noteworthy, Media General will comment on the preprint impact within these categories. The highest percentage of preprint revenue is in the Retail revenue category. Also beginning in January 2005, color and comics revenue will be classified in the applicable Retail, National or Classified category instead of in Other advertising. The prior-year amounts have been reclassified accordingly.

Classified revenues increased nearly $1.9 million, or 11.1 percent, over 2004. Nearly half of the increase came from The Tampa Tribune, up 14.5 percent, while the Richmond Times-Dispatch reported a 7.6 percent improvement, and the Winston-Salem Journal was up 6.7 percent. The community newspapers rose 12.7 percent. Including online advertising, the overall increase was 13 percent. Help-wanted linage was a primary factor in most markets.

Employment linage for the company’s three metropolitan newspapers rose 13 percent, including increases of 20.2 percent at the Richmond Times-Dispatch, 7.5 percent at The Tampa Tribune, and 5.8 percent at the Winston-Salem Journal. Results in automotive linage were mixed.

Retail ROP revenues increased $575,000 compared to last year, or 3.3%, on the strength of retail preprints and color advertising at The Tampa Tribune. The Tampa Tribune reported a 6.1 percent rise in Retail revenue, reflecting increases from the automotive accessories, entertainment and department store categories. The Richmond Times-Dispatch retail revenues increased 2.8 percent on the strength of furniture and grocery advertising. The Winston-Salem Journal was adversely impacted by the absence of a Super Bowl advertising package this year. The company’s community newspapers posted a 3.6 percent increase in Retail advertising in the month.

National ROP revenues improved $550,000, or 13.8 percent, primarily reflecting increases in national preprints and color revenue. The largest gains were in Tampa, up 12.1 percent, and in Winston-Salem, which reported a 26.1 percent rise. The Tampa Tribune’s associated newspapers also reported significant increases, and the community newspapers experienced strong gains. Color revenue for National advertising was a driving force for the increases in most markets.

Circulation revenues were down $215,000, or 2.4%, mostly the result of volume declines.

In the Broadcast Division, the absence of Political, issue and presidential primary spending, and the loss of Super Bowl advertising on the company’s 16 CBS affiliates, adversely impacted National time sales. Combined with lower network compensation, these declines more than offset increased sales by the division’s equipment subsidiary and higher Local time sales.

Gross time sales decreased $1.8 million, or 6.9 percent. Local time sales increased $155,000, or 1 percent, and reflected gains in services, furniture, and entertainment advertising that more than offset decreases in the telecommunications, financial and media categories. National time sales declined $480,000, or 5.5 percent, due to decreases in telecommunications and financial.

Interactive Media Division revenues rose 50.4 percent to a monthly record of $1.5 million. The performance was driven by a 58 percent increase in Classified advertising, reflecting strong liner upsell activity and special product revenue. In addition, Local advertising revenues doubled due to robust banner advertising.

About Media General
Media General is a diversified communications company operating leading newspapers, television stations and online enterprises, primarily in the Southeastern United States. The company’s publishing assets include three metropolitan newspapers, The Tampa Tribune, the Richmond Times-Dispatch, and the Winston-Salem Journal; 22 daily community newspapers in Virginia, North Carolina, Florida, Alabama and South Carolina; and more than 100 weekly newspapers and other publications. The company’s broadcasting assets include 26 network-affiliated television stations that 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 assets include more than 50 online enterprises that are associated with its newspapers and television stations. Media General also owns a 20 percent interest in The Denver Post and a 33 percent interest in SP Newsprint Company.

Investor Contact:
Lou Anne Nabhan
(804) 649-6103

Media Contact:
Ray Kozakewicz
(804) 649-6748

Charts follow:
Revenue Report
Ad Lineage Summaries

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