FOR IMMEDIATE RELEASE
Monday, March 26, 2001

Media General Reports February Revenues

RICHMOND, Va. — Media General (AMEX: MEG.A) today reported total revenues for February 2001 of $63.2 million, up more than 16 percent from $54.3 million in February 2000. This increase primarily represents the results of 13 television stations and five daily newspapers acquired in 2000. Revenues from existing operations decreased less than 2 percent.

Publishing revenues for February 2001 exceeded the prior year by 5.2 percent, including acquisitions. Excluding acquisitions, the division's revenues were down 2.5 percent.

Broadcast revenues for the month increased 53 percent, including acquisitions. Excluding the results of acquired properties, the division's revenues rose 3 percent.

Interactive Media revenues were $685,000, compared with $598,000 in February 2000, when they were included in the other divisions' results.

Excluding acquisitions, the largest shortfall in the Publishing Division came from classified advertising, which was down nearly 5 percent due to decreases in automotive and employment ads. Retail advertising also declined 5 percent, while preprint revenue fell 4 percent. National advertising, however, was up 11 percent, primarily from increases in the telecommunications category. Another bright spot was circulation revenue, which improved 2.4 percent as daily net paid circulation increased in many Media General markets.

The majority of Media General's community newspapers improved their revenues, but these gains were not enough to offset revenue shortfalls at the company's metropolitan dailies. Compared with February 2000, total revenues declined 4.4 percent at the Richmond Times-Dispatch, 4.3 percent at The Tampa Tribune and 1.3 percent at the Winston-Salem Journal.

"This difficult advertising environment has continued into March, particularly in our largest newspaper markets," said J. Stewart Bryan III, Media General's chairman and chief executive.

In the Broadcast Division, gross time sales for February increased 49 percent over year-ago results, including acquisitions. Excluding acquisitions, however, gross time sales declined $376,000, or 3.1 percent. Year-over-year time sales also were down significantly at the acquired stations. Cutbacks in automotive advertising and the virtual absence of political advertising were the main reasons for declines throughout the division.

The Broadcast Division's overall revenues were enhanced by a strong monthly performance from Professional Communications Systems, a Media General subsidiary that designs studios and provides broadcasting equipment.

"Given the circumstances, our Broadcast Division performed well in February," Bryan said. "National time sales were down significantly at many of our stations, but they were able to hold their own with local time sales — the category that best reflects the outstanding efforts of their sales forces."

Equally aggressive initiatives to reduce expenses in all of Media General's operations should help keep the company profitable in the first quarter despite the industry-wide advertising slump. Bryan reiterated that the first quarter will be "only a little better than breakeven."

About Media General
Media General is an independent, publicly owned communications company situated primarily in the Southeast with interests in newspapers, television stations, interactive media and diversified information services. The company's publishing assets include The Tampa Tribune, the Richmond Times-Dispatch, the Winston-Salem Journal and 22 other daily newspapers in Virginia, North Carolina, Florida, Alabama and South Carolina, as well as nearly 100 other periodicals and a 20 percent interest in The Denver Post. Media General's 26 network-affiliated television stations reach more than 30 percent of the television households in the Southeast, and nearly 8 percent of those in the United States. The company's extensive interactive media offerings include more than 50 online enterprises. Media General also has a 33 percent interest in SP Newsprint Co., which operates newsprint mills in Dublin, Ga., and Newberg, Ore.

Forward-Looking Statements
This news release contains forward-looking statements that are subject to various risks and uncertainties and should be understood in the context of the company's publicly available reports filed with the Securities and Exchange Commission. Media General's future performance could differ materially from its current expectations.

Statistical charts follow:
Revenue Report
Ad Linage Report

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