Media General Pro Forma 2Q Rev Up 1%

Media General Inc. today reported positive second quarter earnings numbers today, even without including the contributions of the stations it added from its merger with LIN Media that was completed on Dec. 19, 2014.

Breaking down the results (minus the new stations):

• Net revenues increased 1% to $321 million in the second quarter, compared to the prior year.

• Net local revenues, which include net local advertising revenues and retransmission consent fees, increased 9% to $220 million in the second quarter, compared to the prior year.

• Net national revenues decreased 2% to $53 million in the second quarter, compared to the prior year.
• Net digital revenues decreased 13% to $36 million in the second quarter, compared to the prior year.
• Adjusted EBITDA decreased 2% to $91 million in the second quarter, compared to the prior year.

Media General’s President-CEO Vincent L. Sadusky said: “Our team continues to make terrific progress on our integration and operating initiatives, and we delivered record net revenues despite the lack of political advertising. The investments we are making to grow our business, while delivering strong cash flow and integration synergies, are positioning our company to capitalize on numerous opportunities in 2016 and deliver strong shareholder value.”