Media General Inc

Media companies Gannett Co., Knight Ridder Inc. and Media General Inc. reported earnings decreases for the second quarter because of declining advertising sales. The newspaper publishing industry has been hurt by fewer national and help-wanted advertisements as companies pare spending amid a slowing U.S. economy. Gannett, the largest U.S. newspaper publisher, said profit fell 12% to $233.5 million, or 88 cents a share, as ad sales slowed at USA Today and the company's 22 television stations.

Other earnings, excluding one-time gains or charges unless noted, include: * Avis Group Holdings Inc., which is being acquired by Cendant Corp., said fourth-quarter earnings rose 42% to $15.3 million, or 32 cents a share, a penny better than expectations, as sales edged down less than 1% to $1 billion. * Cardinal Health Inc., the second-biggest U.S. drug wholesaler, said fiscal second-quarter profit rose 21% to $214.6 million, or 75 cents a share, from $176.

Thirty-one weekly newspapers in Orange County and the San Gabriel Valley were put up for sale Tuesday by Media General Inc., the Richmond, Va.-based media conglomerate that last year fended off a bitter hostile takeover attempt by Hollywood producer Burt Sugarman. Media General said it was selling the community newspapers because they were geographically too far from the company's base in the Southeast and strategically too far from the firm's focus on daily newspapers.

Media General Inc., the company that publishes the Richmond Times-Dispatch, said it's buying closely held Spartan Communications for $605 million to add to its 13 television stations. Spartan, based in Spartanburg, S.C., owns and operates 10 CBS Corp.-affiliated stations, two ABC Inc. affiliates and one UPN-affiliated station. The stations are in South Carolina, North Carolina, Georgia, Florida, Iowa and Kansas. The agreement increases Media General's presence in the U.S.

Richmond Paper to Close: Media General Inc. said it will fold the afternoon Richmond (Va.) News Leader next June. The merger of the News Leader with the morning Richmond Times-Dispatch will eliminate about 190 jobs, the company said. J. Stewart Bryan III, chairman and chief executive of Media General, said the News Leader's circulation has been declining steadily. This summer, it fell below 100,000 for the first time in nearly half a century.

Thomson Corp., which is selling all of its newspapers except its flagship Globe & Mail in Toronto, said it will sell five of its dailies to Media General Inc. for $237 million and another one to Copley Press Inc. The company also announced plans to sell its Medstat Group, a consultant that provides database, software and research services to about 1,000 U.S.-based companies and government agencies. Thomson hopes to sell it by the end of the year. Media General, based in Richmond, Va.

Media General Inc., the company that publishes the Richmond Times-Dispatch, said it's buying closely held Spartan Communications for $605 million to add to its 13 television stations. Spartan, based in Spartanburg, S.C., owns and operates 10 CBS Corp.-affiliated stations, two ABC Inc. affiliates and one UPN-affiliated station. The stations are in South Carolina, North Carolina, Georgia, Florida, Iowa and Kansas. The agreement increases Media General's presence in the U.S.

Media General Inc. said it called off a $42-million deal to buy the Eureka Times-Standard newspaper from Garden State Newspapers Inc. "Our agreement in principle was based upon our understanding of certain projections and assumptions at that time," Media General Chairman Stewart Bryan said. "Upon detailed inspection, we found the original price to be unrealistic and declined to pursue the purchase on its original terms."

Bids for Multimedia Inc. Reported: Some big-name buyers are preparing bids for the broadcasting and newspaper company, industry sources said, although complicated tax considerations are drawing out the process. An industry source said the NBC unit of General Electric Co. and Richmond, Va.-based Media General Inc. have teamed up to submit a proposal for Greenville, S.C.

I am attending a public school and my experiences have been all negative. Students that entered the school with a 4.0 or better average have suddenly dropped to a 2.0 or even worse. Teachers lack warmth and kindness and have taken on the roles of being enemies rather than friends, due to deep cuts in the budget. Academically, teachers try to get away with teaching the least possible amount they can. Is getting a free education the road to a better future? As a whole, it is not.

Bids for Multimedia Inc. Reported: Some big-name buyers are preparing bids for the broadcasting and newspaper company, industry sources said, although complicated tax considerations are drawing out the process. An industry source said the NBC unit of General Electric Co. and Richmond, Va.-based Media General Inc. have teamed up to submit a proposal for Greenville, S.C.

Richmond Paper to Close: Media General Inc. said it will fold the afternoon Richmond (Va.) News Leader next June. The merger of the News Leader with the morning Richmond Times-Dispatch will eliminate about 190 jobs, the company said. J. Stewart Bryan III, chairman and chief executive of Media General, said the News Leader's circulation has been declining steadily. This summer, it fell below 100,000 for the first time in nearly half a century.