FOR IMMEDIATE RELEASE
Friday, March 2, 2001

Media General Reports January Revenues

RICHMOND, Va. — Media General (AMEX: MEG.A) today reported total revenues for January 2001 of $71.5 million, a 15 percent increase from $62 million in January 2000. This increase primarily represents the results of 13 television stations and five daily newspapers acquired in 2000.

Publishing revenues for January 2001 exceeded the prior year by 7.2 percent, including acquisitions. Excluding acquisitions, the division's revenues were nearly flat.

Broadcast revenues for the month increased 43 percent, including acquisitions. Excluding the results of acquired properties, the division's revenues declined by $590,000 or 4.2 percent. Revenues from the acquired stations also declined from their year-ago levels.

Interactive Media revenues — reported separately for the first time — were $787,000, compared with $621,000 in January 2000, when they were in the other divisions' numbers.

Publishing results reflect slower advertising spending and other unusual factors. For example, some revenues from post-holiday sale advertising that typically are generated in January were realized in December 2000 because of the extra week in that reporting period. In addition, last year's January revenues were boosted by strong sales in numerous millennium editions.

Classified advertising increased 6.7 percent, primarily due to acquisitions, and it increased 1.3 percent excluding acquisitions. While some markets saw strength in classified advertising, particularly in the employment and real estate categories, large cutbacks occurred in automotive advertising.

Retail advertising increased 4.7 percent, due mainly to acquisitions. Excluding acquisitions, the category decreased 5 percent. In line with a softening economy, several major retailers, primarily in the department store category, made significant cutbacks.

National and preprint revenues showed gains in January of 4.3 percent and 11.5 percent, respectively. Excluding acquisitions and divestitures, the increases were 3.8 percent and 2.9 percent. Preprint advertising gains came primarily from Richmond and Winston-Salem as retailers switched to preprints from display advertising.

Circulation revenue increased 9.6 percent, primarily due to acquisitions. Average daily and Sunday circulation declined slightly in Richmond and in Winston-Salem, while average daily circulation increased somewhat in Tampa. Circulation numbers were up overall at the company's smaller dailies.

Total revenue declined slightly at the Richmond Times-Dispatch and at the Winston-Salem Journal, while The Tampa Tribune produced a small increase on the strength of extra advertising and circulation related to the Super Bowl. The company's community newspapers had a year-over-year increase of $3.7 million, or 30.5 percent, including acquisitions, and a modest increase excluding acquisitions.

In the Broadcast Division, gross time sales increased 41 percent over year-ago results, including acquisitions. Excluding acquisitions, gross time sales declined $1.1 million, or 8.7 percent, almost evenly divided between the local and national categories. A sharp drop in automotive advertising was the major contributing factor to the overall decline. Gross time sales at acquired properties declined significantly, compared with January 2000. While local sales decreased, the more significant shortfall was in national sales.

"As we announced on Jan. 30, and in line with our industry peers, we experienced an extremely soft advertising market in January," said J. Stewart Bryan III, Media General's chairman and chief executive. "Also, as previously announced, the impact was greater in our Broadcast Division, which was particularly hurt by a decline in automotive advertising.

"Our Publishing and Broadcast divisions do not foresee significant changes in the advertising climate for the next couple of months. We are in the midst of a very soft revenue environment at a time when we are incurring higher costs for newsprint, personnel, and the startup of our Interactive Media Division."

Media General plans to comment on its outlook for the first quarter at its Investor Conference on March 8 in Tampa, Fla. A news release containing all material disclosures from the conference will be issued on the morning of March 8, and all presentations from the conference will be posted to the Media General Web site (www.mediageneral.com).

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. Media General'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 weeklies and 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.

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

(1 of 3)