Certain of the following data were compiled from the consolidated financial statements of Media General, Inc., and should be read in conjunction with those statements and the financial review and management analysis which appear elsewhere in this report.

1999

1998

1997

1996 

Summary of Operations

Operating revenues

$

795,408

$

816,936

$

756,685

$

618,945

Net income (loss)

$

881,316

$

70,874

$

(10,490

)

$

70,498

Adjustments to reconcile to operating cash flow:

(Income) loss from discontinued Cable operations (a)

(13,978

)

(17,437

)

(16,925

)

(12,454

)

Gain on sale of Cable operations (a)

(798,719

)

—

—

—

Extraordinary item (b)

1,328

—

63,000

—

Cumulative effect of changes in accounting principles (c)

—

—

—

—

Gain on sale of Denver Newspapers, Inc. common stock

(30,983

)

—

—

—

Gain on sale of Garden State Newspapers investment

—

—

—

—

Investment (income) loss — unconsolidated affiliates

(9,067

)

(22,193

)

(21,037

)

(27,188

)

Other, net

(11,548

)

980

(1,270

)

(1,381

)

Interest expense

46,554

62,584

60,691

14,308

Income taxes

45,463

30,482

23,370

31,645

Operating income (d)

110,366

125,290

97,339

75,428

Depreciation and amortization

79,520

75,789

72,184

38,744

Operating cash flow

$

189,886

$

201,079

$

169,523

$

114,172

Per Share Data: (a) (b) (c)

Income (loss) from continuing operations

$

2.64

$

2.01

$

1.35

$

2.21

Discontinued Cable operations

30.66

0.66

0.64

0.47

Extraordinary item

(0.05

)

—

(2.39

)

—

Cumulative effect of change in accounting principles

—

—

—

—

Net income (loss)

$

33.25

$

2.67

$

(0.40

)

$

2.68

Per Share Data — assuming dilution: (a) (b) (c)

Income (loss) from continuing operations

$

2.60

$

1.98

$

1.33

$

2.18

Discontinued Cable operations

30.23

0.65

0.64

0.47

Extraordinary item

(0.05

)

—

(2.37

)

—

Cumulative effect of changes in accounting principles

—

—

—

—

Net income (loss)

$

32.78

$

2.63

$

(0.40

)

$

2.65

Other Financial Data:

Total assets

$

2,340,374

$

1,917,346

$

1,814,201

$

1,025,484

Working capital

167,546

29,129

34,716

13,373

Capital expenditures

60,829

49,480

41,599

28,510

Total debt

59,838

928,101

900,140

276,318

Cash dividends per share

0.60

0.56

0.53

0.50

1994

1993

1992

1991

1990

$

567,583

$

496,942

$

474,468

$

460,292

$

478,599

$

517,742

$

53,232

$

117,009

$

25,708

$

19,000

$

(62,091

)

$

25,480

(Income) loss from discontinued Cable operations (a)

(7,395

)

(8,389

)

(9,154

)

(4,935

)

(637

)

3,196

Gain on sale of Cable operations (a)

—

—

—

—

—

—

Extraordinary item (b)

—

—

—

—

—

—

Cumulative effect of changes in accounting principles (c)

—

—

—

(687

)

—

—

Gain on sale of Denver Newspapers, Inc. common stock

—

—

—

—

—

—

Gain on sale of Garden State Newspapers investment

—

(91,520

)

—

—

—

—

Investment (income) loss — unconsolidated affiliates

(19,034

)

(2,935

)

990

4,926

75,640

1,303

Other, net

(5,204

)

857

(835

)

(6,131

)

(2,659

)

(814

)

Interest expense

5,502

5,774

10,030

5,649

1,782

3,499

Income taxes

23,782

20,758

7,578

5,034

9,072

20,230

Operating income (d)

50,883

41,554

34,317

22,856

21,107

52,894

Depreciation and amortization

34,070

33,048

34,145

31,373

26,217

25,469

Operating cash flow

$

84,953

$

74,602

$

68,462

$

54,229

$

47,324

$

78,363

Income (loss) from continuing operations

$

1.76

$

4.18

$

0.64

$

0.51

$

(2.42

)

$

1.11

Discontinued Cable operations

0.28

0.32

0.35

0.19

0.02

(0.12

)

Extraordinary item

—

—

—

—

—

—

Cumulative effect of changes in accounting principles

—

—

—

0.03

—

—

Net income (loss)

$

2.04

$