Political ad sales and retransmission consent revenue helped Media General’s...

teleconference. He is to succeed CEO Marshall Morton, who is retiring Jan. 1. The company brought in nearly $20 million in political ad revenue during the quarter and $9.4 million from retrans, Morton said. Because of the influx of political ads, Media General’s sales managers have been coordinating with local advertisers about bringing their business back after the election, he said. “The thing they've been wrestling with for the past several weeks is the crowding out issue.” He was referring to the tendency of political spots to leave little ad inventory available for traditional local advertisers. In 2010, Media General succeeded in getting advertisers to plan for placing their spots in November and December, “and I believe we'll be successful in doing that again,” Morton said. “Managing the available time and inventory when you have candidate money and PAC money coming in at the last minute, all looking for a home they like, is a trick,” he said. “But it’s a high-class problem.” Having rid itself of its publishing assets, Media General hopes it will be more attractive to bond and equity investors down the road, Mahoney said. An opportunity to refinance some debt will come up in early 2014, he said. “We are actively monitoring the market, working with our advisers to make sure take advantage of that opportunity to lower our debt costs,” he said. “Being transparent and having fewer broadcast expenses in 2013 will give everyone in the market … a better picture of what we're capable of.” TV station revenue increased 41 percent from a year earlier to $93 million. The company’s net loss widened 1.6 percent from a year earlier on higher interest expenses and other debt-related costs.