By: Staff reports
Newsprint Division Posts Operating Loss
Richmond (Va.) Times-Dispatch publisher Media General reported a 31% increase in earnings per
share in the first quarter of 2000, reflecting the sale of the company’s cable division in
October. EPS was 55 cents, compared with 42 cents in the year-earlier period. Total revenue
increased from $191.8 million to $199.2 million.
Operating income was up 7% in the publishing division and up more than 2% in the television
division. Those gains were offset by the newsprint division, which posted an operating loss of
‘We look forward to better results from our Newsprint Division as we put our production
difficulties behind us and as the forces of supply and demand come back into balance,’ said J.
Stewart Bryan III, Media General chairman and CEO. ‘The major producers are trying to raise
their prices this month, and if they are successful, the performance of our Newsprint Division
should improve substantially in the second half of the year.’
Media General said its television division should grow dramatically in the second quarter as a
result of the March acquisition of Spartan Communications.
Other First Quarter 2000 Earnings:
CATEGORY TV LEADS SCRIPPS EARNINGS
GANNETT REPORTS FIRST QUARTER EARNINGS
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