Media General Q1 Earnings Up - Quick Facts

(RTTNews) - Media General, Inc. (MEG) Monday reported a rise in net earnings for the first quarter, chiefly due a surge in revenues as a result of the merger with New Young Broadcasting Holding Co., Inc. in November 2013.

For the first quarter, net earnings were $5.38 million or 6 cents per share, compared with $3.11 million or 5 cents per share in the same period last year. First-quarter results include $4.8 million of merger-related expenses.

For the three months to March, adjusted EBITDA was $39.3 million, compared with $23.2 million last year.

Net revenues surged to $143.92 million from $50.04 million a year earlier. Operating costs rose to $124.66 million from $42.98 million a year ago.