Media General Inc., which publishes newspapers and runs TV stations, said Wednesday revenue fell 2.8 percent last month on weaker spending for newspaper advertisements.
Total revenue for August slipped to $72.8 million, with sales from Media General’s publishing division falling 6.2 percent as spending on classifieds advertising declined, particularly in the Tampa, Fla., market.
Declines in print advertising were partially offset by increased revenue from the company’s online business, which grew 29 percent to $2.96 million from $2.89 million in the same period last year.
Revenue for the company’s broadcast operations was nearly flat, rising just 0.1 percent to $29.54 million for the period. Media General noted last year’s sales figures included $2.5 million from political advertisements.
Shares of Media General Inc. rose 31 cents Wednesday to $28.47.