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Second quarter loss for Media General

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Media General Inc. reported a net loss today of $4.3 million for the second quarter, or 19 cents per share. That compares to net income of $20.6 million, or 90 cents per share for the same quarter last year.
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The Richmond-based media company said the loss reflected higher interest expense related to a debt restructuring this year as well as noncash tax expense. 

Media General’s revenue and operating income, however, improved from the second quarter of 2009. Operating income was $16.3 million, an increase of 19 percent. Total revenues increased about 2 percent to $166.2 million, with gains in broadcast and digital media operations.

 


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