Annual Meeting of Stockholders May 24, 2002 - PowerPoint PPT Presentation

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Annual Meeting of Stockholders May 24, 2002

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Annual Meeting of Stockholders May 24, 2002 – PowerPoint PPT presentation

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Title: Annual Meeting of Stockholders May 24, 2002


1
Annual Meeting of StockholdersMay 24, 2002
m
2
Cost Reductions
  • Employment reduced 5, mostly through hiring
    freeze
  • Reduced travel, entertainment, promotion and
    other discretionary spending
  • Deferred capital spending
  • Web-width reductions at all newspapers
  • No executive bonuses for 2001
  • Stock options in lieu of cash salary increase for
    executives in 2002
  • Salary increases for employees 3 or less

3
SoutheastFocus
4
Newspaper Clusters
5
Convergence Markets
6
m
Reid AshePresident and Chief Operating Officer
7
Publishing Division
8
Publishing Advertising GrowthFirst Quarter 2002
Percent
Source C.S. First Boston
9
Publishing Operating Cash Flow MarginFirst
Quarter 2002
Percent
Source C.S. First Boston
10
Newspaper Clusters
11
North Carolina Community Newspapers
12
Circulation
13
The Power to Grow Readership
Driving Readership
Content News Ad
Brand Perception
Service Excellence
Culture Management Practices
Source Readership Institute
14
Broadcast Division
15
Television Stations
16
Centralized Traffic Center
17
National Revenues
18
Local Revenues
19
Broadcast Revenues2002 Through March
Source Television Bureau of Advertising
20
Quality Local News
21
Quality Syndicated Programming
22
Digital TV Conversion
23
WCBD Charleston
24
Interactive Media Division
25
Revenue by Product 2002Goal - 13 million
26
Classified Up-Sells
27
Classified and Retail Display Up-Sells
28
Online Products
29
Page Views(per week in millions)
2001
2002
Above includes hosting by Media General and
excludes third party affiliate hosting.
30
m
Marshall MortonVice Chairman and CFO
31
Financial Flexibility
  • New 5-year revolver 1 billion
  • New shelf registration 1.2 billion
  • Debt at the end of 2001 792 million
  • Debt at end of 2002 700 million (E)

32
Uses of Cash 2001
124 Million
33
2002 Capital Expenditures
59.5 Million
Corporate 5.7 million
Publishing 18.1 million
IMD 4.5 million
Broadcast 31.2 million
34
1Q02 vs. 1Q01
  • Publishing Profit 1 million
  • Broadcast Profit 3.7 million
  • Publishing Expenses -8
  • Broadcast Expenses -1
  • Corporate Expense Even

35
m
Marshall MortonVice Chairman and CFO
36
m
Stewart BryanChairman and Chief Executive Officer
37
FCC Cross-Ownership Rule Review
  • Media General participating actively
  • Rule must be repealed completely
  • Any line drawing would be arbitrary
  • Hope for decision by fall

38
Transferred to NYSE from AMEXSeptember 19, 2001
39
Strategic Transformation
  • Cable and newsprint sold
  • Extraneous operations sold
  • New Interactive Media Division
  • A Content Company
  • Strong management team located in Richmond

40
Relative Price Performance
Media General vs. SP 500 and Industry Group
5/14/02
41
Building Shareholder Value
  • Growth Strategy
  • Leverage Southeast focus
  • Newspaper clustering
  • Convergence
  • New Interactive Media products
  • Internal growth and acquisitions
  • Aggressive, focused expense management
  • Invest in human and capital resources
  • Strong cash flow
  • Financial flexibility
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