Full Description

Media General, Inc. is an independent communications company with interests in newspapers, television stations and interactive media in the United States. The Company operates in three business segments: Publishing, Broadcast and Interactive Media. The Company owns 24 daily newspapers and more than 250 other publications, as well as 19 television stations. The Company also operates more than 75 online enterprises. During the fiscal year ended December 28, 2008 (fiscal 2008), the Company sold its one-third ownership stake in SP Newsprint Company to White Birch Paper Company.

Publishing Business

As of December 28, 2008, the Company’s wholly owned publishing operations included daily and Sunday newspapers in Virginia, Florida, North Carolina, Alabama, and South Carolina. As of December 31, 2008, the publishing operations of the Company consumed approximately 84 thousand short tons of newsprint.

Broadcast Business

Media General, Inc.'s Broadcast Television division operates 19 network-affiliated television stations in the United States, including WCWJ in Jacksonville, Florida which was classified as held for sale at December 28, 2008. In 2009, the Company signed a definitive agreement for the sale of WCWJ. During fiscal 2008, the Company completed the sale of the four television stations that were classified as held for sale in three transactions: WTVQ in Lexington, Kentucky; WMBB in Panama City, Florida and KALB/NALB in Alexandria, Louisiana, and WNEG in Toccoa, Georgia.

The primary source of revenues for the Company’s television stations is the sale of commercial time to national and local advertisers and political candidates. Additionally, the Company’s Professional Communications Systems operating unit derives revenue from the sale and integration of broadcast equipment to third parties, including other broadcasters, corporate and governmental enterprises, and colleges and universities.

Interactive Media Business

The Company's Interactive Media Division operates more than 75 interactive enterprises, as well as Advertising Services Group consisting of several digital media enterprises. In April 2008, the Company acquired DealTaker.com, an online social shopping and coupon site, which specializes in driving online shoppers to merchant sites in exchange for a sales-based commission. Also in fiscal 2008, the Company acquired NetInformer, which is a mobile marketing and advertising services provider. The Company owns Blockdot, Inc., an advergaming and branded entertainment company, which serves major brands with gaming and messaging solutions. Collectively, these enterprises comprise the Company’s Advertising Services Group. In fiscal 2008, the division acquired Richmond.com, which is a city portal Website that serves the Richmond, Virginia, things-to-do, local search and entertainment market.

In December 2006, the Company entered into a strategic partnership with Yahoo!, Inc. Since then, the Company transitioned the online career sections of its 24 daily newspapers to the Yahoo! HotJobs platform. The Company also integrated search capability and began distributing targeted local content across Yahoo!’s network of sites. The division also works with Zillow, the Internet real estate company, in a fashion similar to the Yahoo! partnership. The division also is focused on a Web-First/Continuous News initiative and capitalizing on mobile delivery with advertising and marketing services, such as text messaging, mobile coupons and certain classified advertising.