Media General Prices $300 Million Private Offering

Senior secured notes due 2017

Media General has priced its previously announced private offering of senior secured notes due 2017. The face value of the notes is $300 million with an interest rate of 11 3/4 percent. The notes were priced at 97.69 percent of face value, resulting in a yield to maturity of 12 1/4 percent.

The notes are being made available in a private offering to qualified institutional buyers. The offering is exempt from the Securities & Exchange registration rules. Closing is expected Feb. 12, 2010, subject to satisfaction of closing conditions contained in the purchase agreement with the initial purchasers. Media General(NYSE; MEG) intends to use the net proceeds from the offering to repay borrowings outstanding under its existing revolving credit facility.

January 28, 2009: “Media General 4Q09 Broadcast Revenues Decline 17 Percent”
Broadcast revenues for the fourth quarter of 2009 were $71.6 million compared to $86.6 million a year earlier. Total 2009 revenues were $259 million for the stations, compared to $322.1 million a year ag o.