Media General reported a net loss for the first quarter of 2008 of $20.3 million - almost a dollar a share!! (91 cents to be exact). That's compared to their net loss of $6.5 million in 2007's first quarter.
Publishing revenues decreased 16.7 percent from 2007. Classified ads are down 27.9 percent. Retail revenues are down 10.8 percent...man....it just gets worse!
Broadcast down 1.2 percent....Gross time sales down 3.1 percent....local time sales declined 4.4 percent... National time sales fell 14.6.
The interactive division - so highly touted...revenues there declined 3.3 percent over 2007.
Where am I getting my figures? Why from a Media General publication left at my door today. Something called the "MG News."
See why I'm worried about selling my stock?
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