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..."
Click here to receive FREE breaking news email alerts for Media General and others in your portfolio
by RTT Staff Writer
For comments and feedback: email@example.com