Media General posts $ 1.9 mil net profit

Media General Inc. posted a third-quarter net profit of $ 1.9 million (7 cents a share).

For the same period last year, the company posted a net loss of $ 78.8 million ($ 3.03). The 1991 results include a write-off of $ 74.3 million.

Revenues for the period were down 2% to $ 139.9 million vs. a year ago.

The company said third-quarter revenues and operating profits were paced by its cable television units. Media General said newspaper and broadcast television revenues were “essentialy flat” with those of the year-earlier period , while newsprint revenues dropped because of depressed prices.

Want to read more articles like this one? SUBSCRIBE TO VARIETY TODAY.
Post A Comment 0

Leave a Reply

No Comments

Comments are moderated. They may be edited for clarity and reprinting in whole or in part in Variety publications.

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s

More Biz News from Variety

Loading