Media General Reports Rough Q1

By Michael Malone -- Broadcasting & Cable, 4/20/2007 8:46:00 AM

Media General  reported a net loss for the first quarter of $6.5 million, compared to net income of $6.7 million in the first quarter last year . The results include pretax charges of $1 million for severance costs related to staff reductions in publishing. The results also include the four NBC stations Media General acquired last June.

President and CEO Marshall Morton blamed broadcasting and publishing for the weak results. "In the Broadcast Division, continued soft Local and National transactional sales reflected lower spending by automotive advertisers," he stated. "In addition, Broadcast’s 2006 results included revenues from the Winter Olympics that were not present this year."

Broadcast Division profit declined $4 million for the quarter, or 33.2%. Morton lamented the NBC stations’ "weak quarter," and said retooling the sales training would help. Total Broadcast revenues grew 30.5% to $84.3 million.

Media General owns 23 stations across the Southeastern U.S., and a host of newspapers.

Talkback

We would love your feedback!

Post a comment

» View All Talkback Threads

Related Content

• Topics
• Author

No related content found.

Also by this author

• Barrington Revenue Down 15% in Q4

• Market Eye: West Palm Beach-Fort Pierce

• Gray Revenue Down 18% in Q4

• Lexington's Horse Power

• Wisconsin Public Television's Lambeau Leap

Also by Michael Malone

Product Wire

• Resource Center
• Browse Categories
• Browse Companies

Featured Company

• Disney ESPN Media Networks

  

  ESPN, Inc. is the world's leading multinational, multimedia sports entertainment company featuring a portfolio of over 50 multimedia sports assets.

---

Most Recent Resources

• Robust Encoding, Transcoding and Streaming Systems – Critical B..
• Simultaneous Multi-Format Encoding for Efficient Content Repurpos..
• Broadband Services: The Turning Point
• Digital Lifestyles and the Service Provider
• IPTV and the Digital Home