Media General looks to get a short-term boost this year, with it's TV stations in key battleground states of Ohio, Florida, Virginia and North Carolina. Other stations are in markets with tight Senate races.
"Our Virginia, Rhode Island and Ohio stations are also benefiting from hotly contested Senate races," Media General Chief Executive Marshall Morton said in a statement.In the latest quarterly report, the company upped its estimate of revenues from political advertising to around $58 million (up from earlier estimates of $50M. Despite the optimism, Media General reported that corporate staffing has been slashed in half in the last four months, and its share price dropped 4% after the news on the sale of the Tampa Tribune broke.
Source - Media General sells last newspaper; sees strong election ads on TV, Reuters