Second quarter loss for Media General
- July 21, 2010
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.
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.