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RICHMOND, Va. (AFX) - Media General Inc., owner of The Tampa Tribune, other newspapers and broadcast holdings, said Tuesday its July revenue climbed 12.9 percent on strength in its broadcast division from the acquisition of four stations and political advertising.
Broadcast sales surged 38.7 percent. Political revenue in the broadcast segment surged in July to $1.7 million on gubernatorial races in Florida and Alabama and by U.S. Senate and state campaigns in Rhode Island, Ohio and Tennessee.
Broadcast sales for the month include the revenue of four NBC stations acquired in June. Excluding the stations, the company's total July sales rose 3 percent and broadcast revenue grew 5.6 percent.
Total sales for the publishing segment edged up 0.9 percent, as higher retail advertising and real estate classifieds offset soft automotive and help-wanted classified advertising and lower national advertising revenue.
Newspaper advertising climbed 1.6 percent over the year-ago period on increases at the Richmond Times-Dispatch and the Winston-Salem Journal, which offset soft retail and national advertising at The Tampa Tribune.
Classified advertising revenue rose 1.6 percent on real estate ad growth, particularly at The Tampa Tribune.
Circulation revenue fell 6.3 percent, with part of the decline coming from the elimination of subsidies to independent carriers at several newspapers.
Interactive media revenue jumped 39 percent on higher advertising in all categories, the company said.
Shares of Media General added 82 cents, or 2.2 percent, to $37.80 in afternoon trading on the New York Stock Exchange. The stock has traded between $35.65 and $67.80 for the past 52 weeks. Copyright 2006 Associated Press. All rights reserved. This material may not be
Copyright 2006 AFX News Limited. All Rights Reserved.
