Media General sees improvement in ad spending

AP News
Posted: Dec 09, 2009 4:28 PM

Newspaper and TV station owner Media General Inc. said Wednesday it is seeing some improvement in advertising revenues, mainly in the automotive and retail categories.

The company said at the UBS Global Media & Communications Conference in New York that advertiser spending patterns have "firmed" in the fourth quarter. It expects revenue for the quarter to decline by 14 percent to 16 percent from a year earlier, compared with an 18 percent decrease for the third quarter.

For 2010, the company expects total revenue to be "flat to slightly up" from the prior year.

Media General also said its newspaper circulation revenue is up 8.5 percent in 2009, helped by higher prices and a "stable base of loyal readers."

Its shares rose 4 cents to $8.67.