By: E&P Staff Media General reported today that October revenue for its publishing division increased 2.2%, compared with the same period last year. Total company revenue declined 7.8% to $92.6 million.
"Publishing Division revenues of $58.6 million set a record monthly high, and 10 of our newspapers, including The Tampa (Fla.) Tribune, generated their highest ever revenue levels in October," said Marshall N. Morton, president and CEO, in a statement. "In the Publishing Division, continued strong help-wanted and real estate advertising in most markets helped fuel a 7% increase in classified advertising revenues, or 9.3% when online is included. Retail revenues were up, mostly driven by strength at the Tampa Tribune."
Newspaper ad revenue for the month increased 3.2% to $1.5 million. Including revenue from the company's newspaper Web sites, advertising revenue rose 4.3% for the month and total revenue increased 3.1 %.
Despite weak automotive advertising, classified revenue was up 7% to $1.4 million. Total classified advertising increased 13.3% at the Tampa Tribune. The Richmond (Va.) Times-Dispatch and the Winston-Salem (N.C.) Journal were up 7.4% and 3.3%, respectively.
Retail revenue increased 2.5% to $560,000. Tampa Tribune's retail revenue was up 6.5%, reflecting gains in department store and financial advertising, higher preprints and color revenues as well as new products. Retail revenue at the Richmond Times-Dispatch decreased 1.4% due to reductions in the department store and furniture categories. The Winston-Salem Journal was down 2.7% due to lower department store advertising and business closings.
National revenue declined 11% to $540,000. The Tampa Tribune reported a 20% decrease due to declines in the travel, telecommunications, and pharmaceutical categories. The Winston-Salem Journal was down 13.2% due to reductions in automotive advertising. The Richmond Times-Dispatch was up 17.3%, reflecting improvements in preprints as well as branding campaigns by two advertisers.
Due primarily to a change in wholesale rates to independent carriers, for which there was a corresponding expense decrease, circulation revenue was down 5.3% to $450,000. While some Media General newspapers experienced circulation volume declines in October, 10 newspapers reported daily circulation volume growth and seven newspapers did so for Sunday.
In the Audit Bureau of Circulations report for the six months ended September 2005, Media General's newspapers declined 1.2 % daily and decreased 0.9% on Sunday.
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