FOR IMMEDIATE RELEASE
Wednesday, Sept. 18, 2002

Media General Reports August Revenues, Updates Third Quarter Earnings Guidance

RICHMOND, Va. — Media General, Inc. (NYSE: MEG) today reported August 2002 revenues of $63.1 million, 3.5 percent higher than last August's revenues of $60.9 million. Publishing revenues declined 1.4 percent from last August, Broadcast revenues increased 12.7 percent, and Interactive Media revenues grew 34.1 percent.

"The Publishing Division's decline was the smallest since January 2001 and is a significant improvement over the previous months of 2002," said J. Stewart Bryan III, chairman and chief executive officer. "We saw increases in two of our three metropolitan markets, Richmond and Winston-Salem. Tampa remained below last year, mostly because of shortfalls in employment classified and national revenues."

Publishing advertising revenues declined 1.1 percent. Retail revenue was below last year by $513,000, or 4.8 percent, with the majority of losses occurring in community newspaper markets.

Classified revenue was below last year by $270,000, or 2.1 percent. Employment shortfalls continued to be the primary factor, partially offset by strong automotive and real estate classified sales. Help-wanted linage decreased 30 percent at The Tampa Tribune and 16 percent at the Richmond Times-Dispatch. Help-wanted linage increased 4.1 percent at the Winston-Salem Journal, mostly due to lower-than-normal results in August 2001 reflecting market uncertainties related to the Wachovia merger.

National revenue was below last year by $95,000, or 4.5 percent, driven by weakness at The Tampa Tribune in the automotive, financial, medical and food categories, partially offset by strength in other markets. Preprint revenue increased 7.6 percent over last August. Circulation revenue declined 2.3 percent.

In the Broadcast Division, gross time sales increased 17.6 percent compared to last August. Automotive, political and fast food advertising drove the revenue gains. As a group, these categories generated almost 45 percent more revenue than in the prior year.

Local time sales increased 2.6 percent with gains in the fast food, automotive, services and telecommunications categories. National time sales rose 13.3 percent, reflecting added business in the automotive, entertainment, corporate and fast food categories.

Political revenue was $2.2 million, compared to $138,000 in August 2001. Spending on gubernatorial, U.S. Senate and state congressional races in Florida, South Carolina, Alabama and Georgia fueled the gain.

Interactive Media revenues continued to show strong growth both through classified up-selling arrangements with Media General newspapers and from the introduction of new products.

Outlook
"On the Publishing side of our business, the trends continue to move in a positive direction," said Bryan. "Preprint revenue is very strong, and we believe this will continue. We expect to see advertising revenue exceeding prior year levels sometime in the fourth quarter, despite continued weakness in classified employment advertising, as retail revenue appears to be making a modest recovery. Classified employment linage shows no short-term signs of improvement, though automotive advertising remains strong." "On the Broadcast side, revenues continue to be robust," said Bryan, "with political activity exceeding our expectations in a number of markets. We expect third quarter time sales to exceed last year's same period by almost 25 percent. Based on operating results for July and August, Media General expects third quarter earnings to be at the high end of its previously issued guidance of 35 to 37 cents per share."

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.

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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