By: Staff Reports
Company Credits Holiday Advertising, Acquisitions
Southeastern publisher and broadcaster Media General said fourth-
quarter earnings per share would beat analysts’ estimates thanks
to a last-minute surge in holiday advertising, the benefit of
acquisitions, and an extra week in this year’s December reporting
Media General said earnings could be about twice a First Call
Corp. consensus estimate of 44 cents per share, but still below
prior year EPS of 95 cents. The company is scheduled to report
fourth-quarter and full-year earnings on Jan. 30.
Looking ahead, the company said the outlook for the first quarter
of 2001 is less robust as the economic slowdown and strong
December spending has caused some advertisers to pull back in the
Copyright 2001, Editor & Publisher.