FOR IMMEDIATE RELEASE
Tuesday, July 13, 2004

Media General Reports June Revenues

RICHMOND, Va. – Media General, Inc. (NYSE: MEG) today reported June 2004 revenues of $68.4 million, a 7.3 percent increase from June 2003. Publishing Division total revenues increased 4.4 percent, Broadcast Division total revenues rose 11.4 percent, and Interactive Media Division revenues were up 53.8 percent.

Publishing Division newspaper advertising revenues increased $1.5 million, or 4.6 percent, from the same period last year. Including online revenues from newspaper Web sites, total publishing revenues increased 5 percent and newspaper advertising revenues rose 5.4 percent compared with last June.

Classified revenues continued to be the primary source of growth for the Publishing Division. In the month of June, Classified advertising revenues grew $1.1 million, or 8.2 percent, from last year. Strong employment advertising continued to drive positive results at the company’s three metro newspapers, as The Tampa Tribune, the Richmond Times-Dispatch and the Winston-Salem Journal exceeded last year’s Classified revenues by 5.8 percent, 6.3 percent, and 9 percent, respectively. Combined employment linage for the month at the three metro newspapers was 19.4 percent higher than 2003, more than offsetting moderately lower automotive linage. Employment linage was up 19 percent at The Tampa Tribune, 15 percent at the Richmond Times-Dispatch, and 32 percent at the Winston-Salem Journal.

Retail revenues were about even with last year. The Tampa Tribune and its associated community dailies experienced a 9 percent increase in retail revenues for the month, as a result of solid grocery store and health care advertising. Retail advertising also was up at community newspapers in Alabama and South Carolina. Retail advertising revenues were below last year at the Winston-Salem Journal, Richmond Times-Dispatch and several community newspapers.

Preprint revenues were above last year by $360,000, or 6.1 percent, reflecting higher circulation volumes at The Tampa Tribune, as well as increases in most community markets. Retail ROP revenues and retail preprint revenues combined were $220,000, or 1.5 percent, higher than last year for the Publishing Division.

National revenues were down $220,000, or 7.7 percent from last June, primarily the result of softness at The Tampa Tribune, the result of lower automotive, travel and drug advertising. The Winston-Salem Journal’s national revenues also were down from last year, due to lower automotive and telecommunications advertising. The Richmond Times-Dispatch was 5 percent above last year.

Circulation revenues increased $195,000, or 3 percent. The higher revenues are primarily due to rate increases in many markets over the last nine to twelve months, as well as circulation increases at The Tampa Tribune of 2.4 percent daily and 3.6 percent Sunday.

Broadcast gross time sales increased by $2.3 million, or 10.4 percent, reflecting higher political advertising and increased local time sales.

Political revenues of $1.9 million compared with $205,000 in the same period of 2003. Higher political revenues for the month came from U.S. Senate primaries in Florida, Georgia, North Carolina and South Carolina; presidential campaign spending in Florida, Louisiana, Iowa and, for the first time, Virginia, which has recently come to be seen as a swing state. In addition, political revenues reflected issue spending primarily in Florida and Georgia, as well as local and state congressional campaigns in Alabama and Georgia.

Local time sales increased $925,000, or 6.8 percent, led by increases in the fast food, services and telecommunications categories, which more than offset declines in automotive and department store advertising. National time sales declined $255,000, or 2.9 percent, reflecting decreases in the automotive, medical and entertainment categories, which more than offset gains in the services and paid programs categories.

Interactive Media Division revenues increased 53.8 percent to $1.1 million, driven by a nearly 54 percent increase in classified advertising and strong growth in the national/regional advertising categories.

About Media General
Media General is an independent communications company situated primarily in the Southeast with interests in newspapers, television stations and interactive media. 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 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.

Investor Contact:
Lou Anne Nabhan
(804) 649-6103

Media Contact:
Ray Kozakewicz
(804) 649-6748

Charts follow:
Revenue Report
Ad Linage Summaries

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