MarketWatch is reporting Media General lost millions in the fourth quarter of 2008. The parent company of the Winston-Salem Journal and smaller dailies in Rockingham County said the Journal led the company's decline in its balance sheet. Fourth-quarter revenue at the company's newspapers, including the Tampa Tribune, the Richmond Times-Dispatch, the Winston-Salem (N.C.) Journal and 21 other dailies, fell 17%, according to the article.Classified ad revenues plunged 30%, help-wanted ad revenue plunged 60%, real estate by 50%, and automotive by 46%.
Ouch!
E.C. :)
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