1998 Annual Report - Business in Brief

BUSINESS IN BRIEF

Annual Report Index

edia General is an independent, publicly owned communications company situated primarily in the Southeast with interests in newspapers, broadcast and cable television, recycled newsprint production, and diversified information services.

PUBLISHING
Media General owns 21 daily newspapers in Virginia, North Carolina and Florida, as well as nearly 100 weekly and other periodicals. The Company also owns a 40 percent interest in Denver Newspapers, Inc., which publishes the Denver (Colorado) Post. Media General also makes use of new media such as the Internet to provide on-line content which includes news, information and entertainment services. In addition, wholly owned Media General Financial Services, Inc., provides current and historical data on publicly traded companies, along with other specialized financial products.

BROADCAST TELEVISION
Media General’s 14 network-affiliated broadcast television stations reach more than 22 percent of the television households in the Southeast, and more than five percent of those in the United States. The Company’s stations serve attractive markets throughout the Southeast and are well-positioned to increase market share, revenues and income.

CABLE TELEVISION
Media General owns cable franchises in Fairfax County and Fredericksburg, Virginia, with a total of more than 258,000 subscribers. Fairfax County is home to one of the most technologically advanced and affluent consumer populations in the country. The completion of a new fiber optic support structure now underway will permit a variety of new product offerings including high speed data services, Internet access and digital video.

NEWSPRINT
As the largest producer of 100 percent recycled newsprint in the United States, Media General has a natural hedge to soften the impact of newsprint price fluctuations. The Company, which uses a unique de-inking technology, owns a mill in Garfield, New Jersey, with an annual capacity of 242,000 short tons and has one-third ownership of a mill in Dublin, Georgia, with a capacity of 535,000 short tons.