Media General Reports November 2008 Revenues
(NYSE: MEG) today released its monthly revenues report for
Total company revenues of
2007
to lower Publishing Division revenues, which decreased 17.9 percent, mostly
the reflection of a prolonged weakness in newspaper Classified advertising.
In the Broadcast Division, revenues declined 10.7 percent, as Political
advertising only partially offset lower Local and National time sales.
Interactive Media Division revenues grew 7.4 percent, due to a 38 percent
increase in Local online advertising and revenues from DealTaker.com, acquired
on
“Political revenues in November totaled
presidential campaign advertising, particularly in
and
president and chief executive officer.
“We continue to see robust growth in Local online advertising, driven by
our focus on online-only sales initiatives, as well as revenues from our
online shopping and coupon business, DealTaker.com,” Mr. Morton said.
“DealTaker.com experienced a strong Black Friday performance. Commission
revenues increased 167 percent over last year and visitors to DealTaker’s site
increased 80 percent. Our overall online audience growth continued in
November, spurred by our continuous news approach. Page views were up 12.9
percent, visitor sessions grew 26.9 percent and unique visitors rose 29.2
percent.”
Publishing Division
Publishing Division total revenues declined 17.9 percent in November.
Excluding
in
respectively. In
due to the positive impact of revenues from a new weekly newspaper acquired on
Classified decline was not as sharp as in several other markets.
Classified advertising revenues decreased
reflecting reductions in all markets. For the company’s three metro markets
combined, employment revenues decreased 60.4 percent, real estate advertising
revenues decreased 53.8 percent, and automotive revenues declined 45.2
percent.
Retail advertising revenues declined
One-half of the category decline was due to lower spending in
several key categories. National advertising revenues decreased
21.2 percent, and reflected declines in all markets.
Circulation revenues increased
single-copy and home-delivery price increases in a number of markets, which
offset volume declines.
Broadcast Division
Broadcast gross time sales decreased
time sales decreased
declined
specialty stores and service categories drove the decline in Local and
National transactional advertising.
Interactive Media Division
In the Interactive Media Division, while total online Classified
advertising decreased 19 percent, an increase in employment liner advertising
through the Yahoo!HotJobs partnership and higher rates helped to mitigate the
shortfall, as total online revenues advanced 7.4 percent.
National/Regional advertising declined 41 percent, mostly as a result of
reduced spending in
About Media General
Media General is a leading provider of local news, information and
entertainment over multiple media platforms. The company serves markets
primarily in the
newspapers, including The Tampa Tribune, Richmond Times-Dispatch, and
Winston-Salem Journal; and community newspapers in
and other targeted publications. The company owns and operates 19
network-affiliated television stations that reach approximately 30 percent of
the television households in the Southeast and nearly 9 percent of those in
sites and portals that are associated with each of its newspapers and
television stations as well as with many specialty publications, and three
growing interactive advertising services companies, Blockdot, Inc.,
DealTaker.com and NetInformer.
MEDIA GENERAL, INC.
Revenues and Page Views For the Period Ended November 30, 2008
November
--------------------------------
2008 2007 % Change
--------------------------------
Revenues (000)
Publishing $35,681 $43,473 (17.9)%
Broadcast 26,730 29,933 (10.7)%
Interactive Media 3,190 2,971 7.4 %
Eliminations (612) (625) 2.1 %
--------------------------------
Total Revenues $64,989 $75,752 (14.2)%
================================
Discontinued Operations(1) $631 $3,429 (81.6)%
================================
Selected Publishing Revenues by Category (000)
Classified $7,200 $11,564 (37.7)%
Retail 18,940 22,001 (13.9)%
National 2,437 3,092 (21.2)%
Other 563 492 14.4 %
Total Advertising $29,140 $37,149 (21.6)%
================================
Circulation $5,312 $4,954 7.2 %
================================
Broadcast Time Sales (gross) (000)
Local $14,865 $19,359 (23.2)%
National 8,466 11,522 (26.5)%
Political 2,548 1,020 149.8 %
--------------------------------
Total Time Sales $25,879 $31,901 (18.9)%
================================
Online Total Page Views (000)
Total Web Sites 55,120 48,842 12.9 %
(Excluding Advertising Services)
Year-to-Date
2008 2007 % Change
Revenues (000)
Publishing $410,394 $492,569 (16.7)%
Broadcast 304,144 311,369 (2.3)%
Interactive Media 35,535 33,207 7.0 %
Eliminations (6,152) (6,391) 3.7 %
--------------------------------
Total Revenues $743,921 $830,754 (10.5)%
================================
Discontinued Operations(1) $21,378 $36,312 (41.1)%
================================
Selected Publishing Revenues by Category (000)
Classified $116,913 $170,274 (31.3)%
Retail 185,020 206,129 (10.2)%
National 28,816 35,467 (18.8)%
Other 5,542 5,799 (4.4)%
--------------------------------
Total Advertising $336,291 $417,669 (19.5)%
================================
Circulation $59,390 $60,111 (1.2)%
================================
Broadcast Time Sales (gross) (000)
Local $181,040 $196,922 (8.1)%
National 96,955 121,142 (20.0)%
Political 38,054 5,802 ---
--------------------------------
Total Time Sales $316,049 $323,866 (2.4)%
================================
Online Total Page Views (000)
Total Web Sites 698,166 628,068 11.2 %
(Excluding Advertising Services)
Notes: All data are subject to later adjustment.
(1) Discontinued operations include the following TV Stations: WMBB in
Panama City, Florida; KALB/NALB in Alexandria, Louisiana;
WNEG in Toccoa, Georgia; WTVQ in Lexington, Kentucky and WCWJ in
Jacksonville, Florida.
SOURCE Media General, Inc.