Business News

Media General Board Reduces Dividend

Friday 26. September 2008 - The Board of Directors of Media General (NYSE:MEG) today declared a quarterly dividend of 12 cents per common share, a decrease from the most recently declared dividend of 23 cents per share. The dividend is payable on December 15, 2008, to Class A and Class B shareholders of record on November 28, 2008.

“Today’s action by the Board is a prudent response to the continued weak economic conditions impacting our businesses and industry, and allows cash flow to further reduce our debt. We remain positive on our position in our markets and we are continuing to take the necessary actions to implement our growth strategies to build shareholder value,” said Marshall N. Morton, president and chief executive officer.