Media General Presents at UBS Global Media & Communications Conference PR Newswire (press release)

09.12.09

RICHMOND, Va., Dec. 9 /PRNewswire-FirstCall/ -- Media General, Inc. (NYSE: MEG ) will update investors today on the company's business strategy at the 37th Annual UBS Global Media & Communications Conference in New York at 1:30 p.m. ET.

Company speakers will be Marshall N. Morton, president and chief executive officer; Reid Ashe, executive vice president and chief operating officer, and John A. Schauss, vice president-finance and chief financial officer.

Mr. Morton said, "Advertiser spending patterns have firmed in the fourth quarter. We expect total revenues to be down 14-16 percent from last year, which compares sequentially with an 18 percent decrease in the third quarter of this year. Last year's fourth quarter included $23 million of Political revenues and the third quarter of last year included $7.5 million of Political revenues. The improvement we've seen is primarily in the automotive and Retail categories. On the television side, higher automotive spending is mostly coming from the manufacturers, although we've seen an uptick in local dealer advertising in some markets. On the newspaper side, we've seen positive signs with local dealers in some markets, including Tampa and Richmond. Within the Classified category, auto has been declining at a much lower rate than employment or real estate. The preprints placed in our newspapers over the Thanksgiving holiday met or exceeded last year's levels in several markets, and this has continued. Digital Media advertising revenues continue to increase, most notably in the Local and advertising services categories.

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