Media General, Inc. (MEG: Quote) reported fourth-quarter net loss of $3.3 million or $0.15 per share versus profit of $9.05 million or $0.39 per share last year.
Total revenues were down to $167.73 million from $189.88 million a year ago. This decrease was mostly due to an expected and significant decrease in Political revenues in an off-election year. Lower Print revenues and a drop in Advertising Services revenues also contributed to the overall revenue shortfall.
Marshall Morton, president and chief executive officer, said, "..For 2012 overall, we expect a continued decline in total Print revenues, although we are not prepared at this early stage to forecast by how much, due to limited visibility..."
by RTT Staff Writer
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