FOR IMMEDIATE RELEASE
Thursday, Jan. 31, 2002

Media General Reports December Revenues

RICHMOND, Va. — Media General (NYSE: MEG) today reported revenues of $60.9 million for December 2001, down 24.2 percent from December 2000. Most of this decrease was due to a fifth week in the December 2000 reporting period and soft holiday advertising in December 2001.

Publishing revenues declined 25.1 percent from December of last year. Broadcast revenues dropped 22.3 percent, while Interactive Media revenues decreased 4.3 percent.

In the Publishing Division, classified revenues declined 27.8 percent. A small rebound in automotive linage countered continued weakness in employment advertising. Help-wanted linage was down 54 percent at the Winston-Salem Journal, 44 percent at The Tampa Tribune and 39 percent at the Richmond Times-Dispatch. Since help-wanted linage numbers are based on weekly averages, they are unaffected by the extra week in December 2000.

Retail advertising was down 27 percent, including substantial decreases in Richmond and Tampa. National revenues were down only 14.8 percent, a good performance in light of last year's extra week. National was particularly strong at The Tampa Tribune, which benefited from solid telecommunications advertising and a major campaign from Ford Motor Co. Preprint sales were down 22.1 percent across the division, and circulation revenues were down 26.1 percent due to the extra week and the conversion to independent carriers in Tampa.

In the Broadcast Division, gross television time sales declined 22.3 percent from the same month last year. Local advertising fell 17.6 percent, while national advertising decreased 31 percent. The weakness in national time sales reflected soft advertising in the automotive, department store, food products and financial categories.

In the Interactive Media Division, December's revenue growth was slower than anticipated because of economic conditions and a more deliberate approach to the division's initial operations, particularly in the company's smaller markets. In December, moderate growth in the division's classified sales partially offset declines in banner and sponsorship revenues.

About Media General
Media General is an independent 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.

Charts follow:
Revenue Report
Ad Linage Summaries

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