according to a report in editor & publisher (see link) media general, inc., the parent company of alexandria, louisiana's, nbc affiliate kalb-tv, reported an earnings loss in its publishing and broadcasting business.
newspaper publisher Media General Inc. said Wednesday it expects to report a first-quarter loss on a weaker-than-expected start to the year for its publishing and broadcast businesses and loss on its investment in a recycled newsprint manufacturer.EXTERNAL LINK
The publisher of the Tampa Tribune, Richmond Times-Dispatch, and Winston-Salem Journal forecasts a quarterly loss between 26 cents to 30 cents per share. Analysts polled by Thomson Financial were looking for a profit of 20 cents per share.
The company said revenue from its publishing division fell 4.2 percent in February, reflecting a decline in national and classified advertising. Broadcast revenue dropped 2.7 percent, excluding revenue from stations acquired last June.
