30 October 2007

media general might want to unload kalb

speaking of kalb -- its parent company, media general said yesterday that it is considering selling five television stations.

the fort wayne journal gazette reported that:

"Earlier this month, the company announced its third-quarter earnings had plunged 88 percent as advertising revenue slumped from results boosted by political ad sales a year ago. The publisher of the Richmond Times-Dispatch, The Tampa Tribune and Winston-Salem Journal said profit for the quarter ended Sept. 30 fell to $2.5 million, or 11 cents per share, from $20.6 million, or 87 cents per share, a year ago.Media General said revenue fell 5 percent to $230.3 million from $241 million last year.Its broadcast unit's third-quarter profit fell 26 percent to $16.2 million, primarily because of lower political ad spending in this off-election year."
The five stations and Designated Market Areas (DMAs) are:
WCWJ (CW), Jacksonville, Fla., 49
WTVQ (ABC), Lexington, Ky., 64
WMBB (ABC), Panama City, Fla., 154
KALB/NALB (NBC/CBS), Alexandria, La., 180
WNEG, Toccoa, Ga., which is an independent satellite station for WSPA in Spartanburg, S.C.