MEDIA GENERAL REPORTS IMPROVED RESULTS

By: Staff Reports Newsprint Division Still Operating at Loss





Southeast publisher and broadcaster Media General reported earnings rose in
the second quarter on higher newspaper classified advertising, contributions
from its newly acquired Spartan Communications TV group, and lower
operating losses in the newsprint division.



The Richmond, Va.-based company reported earnings per share from continuing
operations rose 45% to 64 cents in the quarter. Revenue increased 20.5% to
$240.4 million.



Media General, which recently agreed to buy three newspaper clusters from
Thomson Newspapers for $237 million, reported its publishing operating cash
flow grew about 3% to $45.2 million in the second quarter on 5.3% higher
revenues.



The newsprint division continued to show operating losses, which totaled $6.2
million in the first six months of the year, compared with $1.3 million a year
ago.



J. Stewart Bryan III, chairman and CEO, said losses declined to less than $1
million in the second quarter and he expects higher paper prices to push the
division into the black in the second half of the year.





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Staff Reports









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