FOR IMMEDIATE RELEASE
Monday, Nov. 18, 2002

Media General Reports October Revenues

RICHMOND, Va. – Media General, Inc. (NYSE: MEG) today reported October 2002 revenues of $91.9 million, 14.5 percent higher than last October's revenues of $80.3 million. Publishing revenues increased 0.4 percent from October 2001, Broadcast revenues increased 40.8 percent and Interactive Media revenues grew 41.8 percent.

"Political revenues for the month far exceeded our expectations," said J. Stewart Bryan III, chairman and chief executive officer. "On the other hand, overall trends in the Publishing Division remain little changed. We continue to experience weak retail, partially offset by strong preprints, and weak employment classified advertising, partially offset by strong automotive classifieds in most markets."

Publishing advertising revenues were 0.6 percent below a year ago. Retail revenue declined $958,000, or 6.7 percent. The majority of shortfalls occurred in the metropolitan markets. The Richmond Times-Dispatch was hardest hit and saw losses in several categories as advertisers continued to hold back on schedules. Retail revenues at The Tampa Tribune were flat versus last year. Preprint revenue increased 5.4 percent over last October, partially offsetting the weakness in retail.

Classified revenue was stronger than last year for the second month in a row, posting an increase of $349,000, or 2.1 percent. Results were mixed across markets as strong automotive and real estate linage offset continued weakness in employment advertising. Automotive linage at the metropolitan newspapers was 21.1 percent higher than last year, but help-wanted linage was 22.1 percent lower. Employment linage was down 10.6 percent in Tampa, 24.8 percent in Richmond, and 36.9 percent at the Winston-Salem Journal.

National revenue was below last year by $165,000, or 4.9 percent, because of weakness in the Tampa market, especially in the telecommunications category. An increase in circulation revenue of 4.6 percent primarily reflects unusually low circulation revenue in October 2001.

Gross time sales in the Broadcast Division increased 48 percent from last October, resulting from a surge in political candidate and issue advertising in the final month before this fall's elections. Political revenue was $16.2 million, compared to $544,000 in October 2001, fueled by intensely contested gubernatorial, U.S. Senate and congressional races in Florida, South Carolina, Alabama and Georgia.

Heavy political volume, which accounted for more than 40 percent of total broadcast billings for the month, caused a decline in transactional spot business, as some advertisers pulled back and others saw their spots pre-empted by political advertising. As a result, local time sales declined 6.7 percent and national time sales declined 15.5 percent.

Interactive Media revenues continued to show strong growth through classified advertising upsell arrangements in conjunction with Media General newspapers and the introduction of new employment, real estate and automotive products.

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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