FOR IMMEDIATE RELEASE Tuesday, July 12, 2005
Media General Reports June Revenues
RICHMOND , Va. – Media General, Inc. (NYSE: MEG) today reported that total revenues for June 2005 increased 3.6 percent, to $70.8 million, from June 2004. On a divisional basis, Publishing revenues increased 3.5 percent, Broadcast revenues were up 2.6 percent, and Interactive Media Division revenues rose 37.3 percent.
Newspaper advertising revenues increased $1.8 million, or 5 percent, over last June, and reflected an 8 percent increase at The Tampa Tribune and a 3.3 percent gain at the Richmond Times-Dispatch. Including revenues from the company’s newspaper Web sites, Publishing revenues increased 4.2 percent and newspaper advertising revenues rose 5.9 percent for the month.
Classified revenues increased $960,000, or 6.2 percent, compared with June 2004. The Tampa Tribune was up 6.9 percent, the Richmond Times-Dispatch was up 6 percent and the Winston-Salem Journal was even with last year. The Community newspapers were up 6.9 percent. Including online advertising, Classified revenues increased 7.9 percent in June.
Employment linage continued to trend upward and increased 7.1 percent at the Richmond Times-Dispatch, 1.7 percent at The Tampa Tribune and 0.9 percent at the Winston-Salem Journal. Real estate linage was strong in all three markets, while automotive linage was down.
Retail revenues increased $690,000, or 4.4 percent, led by 12 percent growth at The Tampa Tribune. Tampa’s results reflected strength in the preprints, entertainment, home furnishings, medical and drug store categories. Retail revenues at the Richmond Times-Dispatch rose 4.3 percent and reflected strong financial advertising and color revenues. Retail advertising at the company’s Community newspapers was softer than expected for the month, with the exception of the Northern Virginia market.
National revenues rose $130,000, or 3.9 percent, over last June. Increases at the Winston-Salem Journal and The Tampa Tribune were partially offset by a decline at the Richmond Times-Dispatch. The increase in Winston-Salem resulted from higher telecommunications, travel, medical and automotive advertising. Tampa’s improvement was due to increased automotive, pharmaceutical and grocery advertising. Richmond’s decline was due to lower telecommunications and entertainment advertising.
Circulation revenues were $365,000, or 5.5 percent, below last year, mostly due to a change in wholesale rates to independent carriers. There also were volume decreases in some markets.
In the Broadcast Division, gross time sales increased $590,000, or 2.4 percent, from last June. Local and National transactional sales improved by an aggregate $2.3 million and more than offset a $1.7 million decline in Political spot sales compared with last year.
Local time sales grew by a robust $2 million, or 13.7 percent, driven by continued success with new business development initiatives. Gains in the automotive, financial, furniture, home improvement, and entertainment categories more than offset declines in the telecommunications and corporate categories.
National time sales rose $305,000, or 3.6 percent. Increases in the corporate and entertainment categories more than offset decreases in financial and automotive advertising.
Interactive Media Division revenues rose 37.3 percent to $1.6 million. This growth was driven by a 44.6 percent increase in Classified advertising and new product revenue. Local advertising was up 47.5 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 33 percent interest in SP Newsprint Company.
Investor Contact:
Lou Anne Nabhan
(804) 649-6103
Media Contact:
Ray Kozakewicz
(804) 649-6748
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