Media General Reports 2nd-Quarter Loss

By: Richmond Times-Dispatch

A slower-than-expected economic recovery hit advertising revenue and led to a loss for Richmond-based Media General Inc. in the second quarter.

The parent company of the Richmond Times-Dispatch reported a net loss for the quarter that ended June 26 of $15.4 million, or 68 cents per share, compared with a loss of $4.3 million, or 19 cents per share, in the same period of 2010.

By excluding a $17 million interest payment and other non-cash expenses in both years, Media General had an operating income of $6.8 million in the quarter compared with $16.3 million in the year-ago period

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