UPDATE 2-Media General newspaper declines accelerate

* Q3 loss $0.48 vs. loss $2.80 a year ago

* Q3 total revenue up 3 percent

* Publishing revenue down 8 pct

* Q4 total revenue forecast to rise 6-8 pct

* Shares down 49 cents to $7.49

(Adds analyst comment, share price)

NEW YORK, Oct 20 (BestGrowthStock) – Media General Inc (MEG.N: )
followed its newspaper peers with a decline in third quarter
publishing revenue, providing more evidence that a newspaper
recovery is nowhere to be found.

Investors pushed Media General shares down almost 6 percent
in morning trade on Wednesday brushing aside a rise in total
revenue.

Publishing revenue at the company fell almost 8 percent on
drop in retail advertising sales in the third quarter
year-over-year erasing any modest improvements made in the
second quarter, when revenue fell 7 percent.

“Clearly the recovery is stalling out,” said Edward
Atorino, an analyst with the Benchmark Co. “The third quarter
was disappointing across the board.”

Indeed, Gannett Co (GCI.N: ), the New York Times Co (NYT.N: )
and McClatchy (MNI.N: ) all reported third quarter declines in
newspaper revenue.

Media General, which also owns broadcast stations, said
that total revenue increased about 3 percent to $163.2 million
due mainly to strong political TV advertising.

Broadcast revenue advanced 18 percent.

For the fourth quarter, Media General expects total revenue
to rise between 6 and 8 percent.

The publisher of the Richmond Times-Dispatch reported a
loss of $10.7 million, or 48 cents per share, compared with a
loss of $62.5 million, or $2.80 per share, in the same quarter
last year.

Few analysts offered estimates on the company, making an
average expectation difficult to project.

Media General shares were down 6 percent to $7.49 in
morning trade on the New York Stock Exchange.
(Reporting by Jennifer Saba, editing by Gerald E. McCormick
and Derek Caney)

UPDATE 2-Media General newspaper declines accelerate