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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.
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.
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