Media General in the Gutter

Editor & Publisher report on Media General:

https://i1.wp.com/www.tampabay.com/blogs/media/sites/tampabay.com.blogs.media/files/images/typepad-legacy-files/52343.6a00d83451b05569e20133ec87e5a4970b-pi.jpg

Media General, Inc. (NYSE: MEG) today reported an operating loss in the first quarter of 2011 of $4.2 milllion, compared with operating profit of $8.7 million in the first quarter last year. Segment operating profit was $8.6 million in the first quarter compared to $19.4 million last year. Net loss in the first quarter of 2011 was $25.8 million, or $­­1.15 per share, compared with $16.7 million, or 75 cents per share, last year.

Total revenues in the quarter decreased by $9.9 million, or 6.2 percent, to $148.9 million. Last year’s revenues included a total of $9.3 million of Olympics, Super Bowl and Political revenues that were not present this year.

Continue reading:

http://www.editorandpublisher.com/Headlines/media-general-reports-firstquarter-2011-results-64851-.aspx

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