Media General Exploring Sale of Newspapers
Posted on February 23, 2012Media General has announced it is exploring a sale of its newspaper operations. The company says it has received inquiries from third parties about buying its print newspaper assets.
Media General publishes 21 daily newspapers, including The Tampa Tribune, Richmond Times-Dispatch and the Winston-Salem Journal. It also publishes lots of weekly newspapers. The company's non-newspaper properties include TV stations and DealTaker.com, a coupon site. You can find a list of Media General's properties here.
Reuters reports that the company has been battling rising publishing costs combined with shrinking newspaper ad revenues. Reuters also says Media General has posted a loss in seven of its past eight quarters.