RICHMOND, Va. – Media General Inc., the parent company of WJAR-TV NBC 10, saw its net loss widen to $25.8 million in the first quarter from $16.75 million a year earlier.
Earnings per share was a loss of $1.15 in the first quarter, compared to 75 cent loss seen in the same quarter a year earlier.
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Operating income was a loss of $4.25 million in the three months ended March 27, compared to a profit of $8.71 million for the same quarter 2010. Revenue dropped to $148.94 million from $158.86 million.
Nevertheless, Media General said the Ohio/Rhode Island market, which includes two NBC-affiliated television stations, had a profit of $4.4 million in the first quarter. Revenue decreased 9.2 percent, reflecting an absence of Olympics-generated revenue, to $12.36 million.
