FOR IMMEDIATE RELEASE
Thursday, January 27, 2005

Media General Reports December Revenues

RICHMOND, Va. – Media General, Inc. (NYSE: MEG) today reported December 2004 revenues of $72.2 million, a 7.7 percent increase from December 2003. On a divisional basis, Publishing revenues increased 5.4 percent, Broadcast revenues rose 10.7 percent, and Interactive Media Division revenues were up 63.3 percent.

For the month, newspaper advertising revenues increased $2.3 million, or 6.2 percent, over last year. The Tampa Tribune reported a very strong month, with advertising revenues up 10.6 percent. The community newspaper group had advertising revenue growth of 8.9 percent. When online revenues from Media General’s newspaper Web sites are included, total publishing revenues increased 6.1 percent for the month, and newspaper advertising revenues rose 7.1 percent.

The strength for the month was mainly in Classified advertising revenues, which increased $1.1 million, or 10.1 percent, over 2003. Including online advertising, the overall increase was 11.8 percent. There were impressive gains in almost every market, driven mostly by help-wanted linage, with The Tampa Tribune posting an increase in Classified revenues of 13.4 percent. Employment linage for the company’s three metropolitan newspapers, which typically slows seasonally in December, rose 16.2 percent, including increases of 29 percent at the Richmond Times-Dispatch, 6.8 percent at The Tampa Tribune, and 5.5 percent at the Winston-Salem Journal. Richmond’s strong improvement was the result of lower unemployment rates that helped drive healthcare and state and governmental advertising as well as new advertising promotions in this category. Results in automotive linage were mixed as The Tampa Tribune exceeded last year, while the Richmond Times-Dispatch and Winston-Salem Journal reported declines. Real estate classifieds experienced solid gains in many markets, particularly the three metro newspapers.

Retail ROP revenues continued to be soft and were about even for the month. The Tampa Tribune reported a 14 percent increase, reflecting strength in the department store and medical categories, as well as Wal-Mart advertising. The Richmond Times-Dispatch was down nearly 3 percent as advertising from the new malls in December 2003 was strong. Media General newspapers in Northern Virginia and Charlottesville also posted gains for the month. Retail, including preprints, exceeded last year by approximately 1 percent.

Preprint revenues, which were up $520,000, or 6.4 percent, contributed to the strength of December’s overall results. About half of the increase came from The Tampa Tribune, and most other newspapers showed gains as well.

National ROP revenues declined $55,000, or 1.7 percent. The shortfall was in Tampa, driven by lower telecommunications advertising, while other markets showed gains in the category. National, including preprints, exceeded last year by 7.8 percent, or $280,000.

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

In the Broadcast Division, gross time sales increased $1 million, or 4.5 percent. Local time sales increased $1.4 million, or 9.8 percent, and reflected gains in the specialty stores, department stores, fast food and services categories that more than offset a decrease in the automotive category. National time sales rose $384,000, or 5.4 percent, due to increases in automotive, corporate and fast food advertising that more than offset declines in the department store and appliance categories.

As expected for December of 2004, Political revenues were absent whereas early presidential primary spending in the prior-year quarter generated revenues of $770,000.

Interactive Media Division revenues increased 63.3 percent to $1.2 million, driven by a 62 percent increase in Classified advertising, reflecting both rate increases and strong volume growth. Local advertising revenues increased 70 percent.

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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