By: E&P Staff
Media General announced today that it expects total revenues to increase approximately 2% in Q2, year-over-year. The parent company of the Winston-Salem (N.C.) Journal and the Richmond (Va.) Times-Dispatch attributed this showing to strong performances in its Mid-South and Ohio/Rhode Island markets, as well as increased revenues in ad services.
As the company’s Mid-South and Ohio/Rhode Island markets are dominantly television markets, Media General’s newspaper properties did not account for its Q2 increase. Its broadcast revenues in the second quarter are expected to rise nearly 14% compared with last year, thanks to strong growth in political and automotive advertising.
Its broadcast gains, however, will be partially offset by a decrease in publishing revenues of about 7%. Still, Media General says its decline in publishing revenues continues to moderate; in Q1 2010 they were down 9.4%. In Q2, campaign spending for gubernatorial campaigns in Ohio, South Carolina, Alabama and Florida; the U.S. Senate race in Florida, and state races in a number of markets helped.
Media General says it expects its total operating costs to increase 3% to 4% in Q2, reflecting the absence of furlough days in 2010 and support of new revenue initiatives.
Last week, Media General announced plans to extend part of its Yahoo advertising sales partnership to all of its television stations by the end of this year. Media General is the first member of the Yahoo Newspaper Consortium to sell Yahoo display advertising at television stations. The company has been selling Yahoo display ads in its five convergence markets, which include newspapers and TV stations, for the past three years.