Media General, Inc. EBITDA, AFTER-TAX CASH FLOW AND FREE CASH FLOW

Media General, Inc.
EBITDA, AFTER-TAX CASH FLOW AND FREE CASH FLOW
(Unaudited, in thousands)

	2nd Quarter		YTD
	2003	2002	2003	2002

Income before cumulative effect of change in accounting principle	$ 17,505	$ 16,262	$ 24,516	$ 22,287

Interest	7,985	11,924	17,853	25,354
Taxes	10,062	10,073	14,092	13,805
Depreciation and amortization	16,598	16,892	33,692	33,531

EBITDA before cumulative effect	$ 52,150	$ 55,151	$ 90,153	$ 94,977


Income before cumulative effect of change in accounting principle	$ 17,505	$ 16,262	$ 24,516	$ 22,287
Depreciation and amortization	16,598	16,892	33,692	33,531


After-tax cash flow	$ 34,103	$ 33,154	$ 58,208	$ 55,818


After-tax cash flow	$ 34,103	$ 33,154	$ 58,208	$ 55,818
Capital expenditures	6,440	5,486	12,925	15,795


Free cash flow	$ 27,663	$ 27,668	$ 45,283	$ 40,023

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