Annual Report Index

First
Quarter

Second
Quarter

Third
Quarter

Fourth
Quarter

1997

Revenues

$216,145

$229,426

$221,975

$242,441

Operating income

24,802

34,325

28,481

41,837

Income before extraordinary item

8,233

13,890

10,565

19,822

Extraordinary item

(63,000)

—

—

—

Net income (loss)

(54,767)

13,890

10,565

19,822

Income per share before extraordinary item

0.31

0.53

0.40

0.75

Income per share before extraordinary item — assuming dilution

0.31

0.52

0.39

0.75

Net income (loss) per share

(2.08)

0.53

0.40

0.75

Net income (loss) per share — assuming dilution

(2.06)

0.52

0.39

0.75

Shares traded

2,761

2,978

2,498

Stock price range

$29.38-32.75

$28.38-35.25

$34.50-40.00

$37.25-44.63

Quarterly dividend paid

$0.13

$0.13

$0.13

$0.14

1996

Revenues

$184,800

$192,632

$188,003

$199,670

Operating income

20,015

29,553

23,199

29,669

Net income

15,056

20,880

15,623

18,939

Net income per share

0.57

0.79

0.60

0.72

Net income per share — assuming dilution

0.57

0.78

0.59

0.71

Shares traded

2,661

1,756

2,597

2,095

Stock price range

$29.88-39.38

$34.75-39.50

$27.63-37.50

$29.38-32.63

Quarterly dividend paid

$0.12

$0.12

$0.13

$0.13

• Media General, Inc., Class A common stock is listed on the American Stock Exchange under the symbol MEG.A. The approximate number of equity security holders of record at March 1, 1998, was: Class A common — 2,380, Class B common — 16.
  
• First quarter 1997 results include a charge of $63 million, net of a tax benefit of $38.6 million ($2.39 per share, or $2.37 per share — assuming dilution), representing the debt prepayment premium and the write-off of associated debt issuance costs related to the redemption of debt assumed in the January 1997, Park acquisition.
  
• During the fourth quarter 1997, the Company received updated appraisal information related to the Park acquisition which principally resulted in adjustments to intangible assets, deferred taxes and the effective income tax rate. Values assigned by the appraisal to identifiable intangible assets increased and excess of cost over fair value decreased while total appraised value remained unchanged.