Media General's broadcast division posted a 10% drop in operating income in the first quarter on a same station basis compared to first quarter 2000, on a 1.3% drop in revenue.
But with acquisitions over the past year, actual revenues totaled $60.1 million, up 49%, while operating income was up 25% to $7.8 million. Total revenues for the publisher-broadcaster were up 15% to $199 million, while pre-tax income was down 81% to $5.6 million.
The drop was attributed to the soft advertising environment for both newspapers and TV stations. Company president J. Stewart Bryan III predicted second quarter revenues will be down 3% excluding acquisitions, but up 5% including acquisitions. - Steve McClellan