Earnings: Media General Posts 27 Percent Profit Rise

Newspaper and TV station owner Media General (NYSE: MEG) reported Wednesday morning that 4Q earnings rose 27 percent, due mostly to revenue from its broadcast holdings. The Richmond, VA-based publisher of the Richmond Times-Dispatch, The Tampa Tribune and Winston-Salem Journal, said in a statement that net income for the quarter that ended Dec. 31 rose to $31.6 million, or $1.33 per share, compared with $25 million, or $1.05 per share, in the year-ago period. Other highlights include:
— Total sales rose 26 percent to $294.7 million, including $18.5 million from the four NBC television stations acquired in late June.
— The broadcast unit’s profit for the quarter more than doubled to $46.1 million, including the new stations.
— The company

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