Magazine article Editor & Publisher

No Fireworks for Media General as July Newspaper Revenue Falls

Magazine article Editor & Publisher

No Fireworks for Media General as July Newspaper Revenue Falls

Article excerpt

Media General Inc. released July results that suggest the sinking Florida economy is not yet through whacking away at The Tampa Tribune parent's financials.

Richmond, Va.-based Media General reported its publishing revenue fell 18.9% in July compared to a year ago -- led by a 30.8% plunge in the Florida market, where it also publishes dailies in three communities smaller than Tampa. Excluding Florida, publishing division total revenue for the month was down 13.4%.

Revenue was down by 17.2% among its Virginia papers, 7.5% in North Carolina; and 6.5% in its Alabama markets. As it did for June, Media General reported a revenue increase, this time of 2.1%, for its South Carolina properties, driven by results from its new weekly in the greater Florence/Myrtle Beach market.

Newspaper classified advertising revenue plunged 32.5%, led by Tampa and Richmond, but with decreases in all markets, Media General said.

The newspaper industry's three big losing classified categories these days were also down big for Media General: real estate falling 47.2%; employment, 45.2%; and automotive, 42. …

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