MEDIA GENERAL REVISES EARNINGS DOWNWARD

By: Staff Reports Media General Sells Garden State Paper Co.




Media General revised its second-quarter earnings downward as
a result of its agreement to sell its Garden State Paper Co.
Inc. subsidiary, a newsprint maker, to Enron North America
Corp. for $72 million.



The sale will result in an after-tax charge of about $14
million. As a result, the company said second-quarter earnings
per share, including discontinued newsprint and cable
operations, would be 39 cents instead of the 98 cents
previously reported, compared with 61 cents a year ago.



Media General, which doubled the size of its TV division and
added to its newspaper group this year, said the sale was part
of its efforts to narrow its focus to operating print and
broadcast properties in the Southeast.



The company will retain a one-third interest in SP Newsprint
Co., which will provide Media General with protection against
newsprint price swings.



Earlier Media General Report:



MEDIA GENERAL REPORTS IMPROVED RESULTS
(07/11/00)



Other Second-quarter Earnings:



WSJ GROWTH DRIVES EARNINGS AT DOW JONES
(07/13/00)



BROADCAST DRIVES EARNINGS AT SCRIPPS
(07/12/00)





NYT CO. BEATS SECOND-QUARTER EARNINGS
ESTIMATES (07/10/00)



GANNETT EARNINGS RISE ON ADVERTISING DEMAND
(07/10/00)





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Staff reports