Media General Nominates New Directors

Apr 02, 2001, 01:00 ET from Media General

    RICHMOND, Va., April 2 /PRNewswire/ -- Media General announced today that
 Thompson L. Rankin and Walter E. Williams have been nominated to its board of
 directors and will stand for election at the company's annual shareholders'
 meeting on May 18.  They were nominated to replace Robert P. Black, 73, and
 Roger H. Mudd, 72, who are retiring from the board due to mandatory retirement
 provisions in the company's by-laws.
     "Bob Black and Roger Mudd have contributed considerably to our
 deliberations during the past several years, and we shall miss them," said J.
 Stewart Bryan III, Media General's chairman and chief executive.  "We are
 delighted, however, that Tom Rankin and Walter Williams have agreed to serve
 on our board.  As a director of a large Florida corporation and former
 chairman of Lykes Bros. Inc., Tom is very knowledgeable about Florida, where
 we have such vital operations.  As a respected economist and a newspaper
 columnist, Walter will bring important viewpoints to our discussion and
 decisions."
     Rankin, 60, retired as president and chief executive officer of Tampa-
 based Lykes Bros. in 1997.  In that capacity, Rankin managed a highly
 diversified corporation with extensive interests in the citrus, shipping and
 cattle industries.  Rankin served on the Media General board from 1985 to
 1994, and he is currently a director of TECO Energy Inc., a multibillion-
 dollar gas and electric utility headquartered in Tampa.
     Williams, 64, is chairman of the Department of Economics at George Mason
 University in Fairfax, Va.  He also is a nationally renowned newspaper
 columnist and broadcast commentator.  His syndicated column runs in
 approximately 160 newspapers, and he frequently appears on television shows
 such as "Nightline" and "Face the Nation."  Williams also has authored six
 books.
     The nominations of Rankin and Williams were announced in Media General's
 proxy statement, which was mailed to shareholders today along with the
 company's 2000 Annual Report.
     The annual report highlights the company's new divisional alignment,
 including strategic updates on Media General's Publishing, Broadcast and
 Interactive Media divisions.  With the sale of the company's Newsprint and
 Cable Television divisions, Media General is well-positioned to capitalize on
 its strategies of southeastern expansion and media convergence.  The annual
 report states, however, that all three divisions are facing a softer
 advertising environment in 2001.  Additionally, the Publishing Division is
 contending with higher newsprint prices, while the Broadcast Division is
 working to replace revenue from Olympic and election advertising.  The
 Interactive Media Division will incur significant startup expenses this year
 and next year, but the company expects the new division to become profitable
 in 2003.
     Media General's 2000 Annual Report and proxy statement will be available
 on the investor relations section of company's Web site on or about April 5.
 The address is http://www.mediageneral.com .
 
     About Media General
     Media General is an independent, publicly owned communications company
 situated primarily in the Southeast with interests in newspapers, television
 stations, interactive media and diversified information services.  The
 company's publishing assets include The Tampa Tribune, the Richmond Times-
 Dispatch, the Winston-Salem Journal and 22 other daily newspapers in Virginia,
 North Carolina, Florida, Alabama and South Carolina, as well as nearly 100
 other periodicals and a 20 percent interest in The Denver Post.  Media
 General's 26 network-affiliated television stations reach more than 30 percent
 of the television households in the Southeast, and nearly 8 percent of those
 in the United States.  The company's extensive interactive media offerings
 include more than 50 online enterprises.  Media General also has a 33 percent
 interest in SP Newsprint Co., which operates newsprint mills in Dublin, Ga.,
 and Newberg, Ore.
 
 

SOURCE Media General
    RICHMOND, Va., April 2 /PRNewswire/ -- Media General announced today that
 Thompson L. Rankin and Walter E. Williams have been nominated to its board of
 directors and will stand for election at the company's annual shareholders'
 meeting on May 18.  They were nominated to replace Robert P. Black, 73, and
 Roger H. Mudd, 72, who are retiring from the board due to mandatory retirement
 provisions in the company's by-laws.
     "Bob Black and Roger Mudd have contributed considerably to our
 deliberations during the past several years, and we shall miss them," said J.
 Stewart Bryan III, Media General's chairman and chief executive.  "We are
 delighted, however, that Tom Rankin and Walter Williams have agreed to serve
 on our board.  As a director of a large Florida corporation and former
 chairman of Lykes Bros. Inc., Tom is very knowledgeable about Florida, where
 we have such vital operations.  As a respected economist and a newspaper
 columnist, Walter will bring important viewpoints to our discussion and
 decisions."
     Rankin, 60, retired as president and chief executive officer of Tampa-
 based Lykes Bros. in 1997.  In that capacity, Rankin managed a highly
 diversified corporation with extensive interests in the citrus, shipping and
 cattle industries.  Rankin served on the Media General board from 1985 to
 1994, and he is currently a director of TECO Energy Inc., a multibillion-
 dollar gas and electric utility headquartered in Tampa.
     Williams, 64, is chairman of the Department of Economics at George Mason
 University in Fairfax, Va.  He also is a nationally renowned newspaper
 columnist and broadcast commentator.  His syndicated column runs in
 approximately 160 newspapers, and he frequently appears on television shows
 such as "Nightline" and "Face the Nation."  Williams also has authored six
 books.
     The nominations of Rankin and Williams were announced in Media General's
 proxy statement, which was mailed to shareholders today along with the
 company's 2000 Annual Report.
     The annual report highlights the company's new divisional alignment,
 including strategic updates on Media General's Publishing, Broadcast and
 Interactive Media divisions.  With the sale of the company's Newsprint and
 Cable Television divisions, Media General is well-positioned to capitalize on
 its strategies of southeastern expansion and media convergence.  The annual
 report states, however, that all three divisions are facing a softer
 advertising environment in 2001.  Additionally, the Publishing Division is
 contending with higher newsprint prices, while the Broadcast Division is
 working to replace revenue from Olympic and election advertising.  The
 Interactive Media Division will incur significant startup expenses this year
 and next year, but the company expects the new division to become profitable
 in 2003.
     Media General's 2000 Annual Report and proxy statement will be available
 on the investor relations section of company's Web site on or about April 5.
 The address is http://www.mediageneral.com .
 
     About Media General
     Media General is an independent, publicly owned communications company
 situated primarily in the Southeast with interests in newspapers, television
 stations, interactive media and diversified information services.  The
 company's publishing assets include The Tampa Tribune, the Richmond Times-
 Dispatch, the Winston-Salem Journal and 22 other daily newspapers in Virginia,
 North Carolina, Florida, Alabama and South Carolina, as well as nearly 100
 other periodicals and a 20 percent interest in The Denver Post.  Media
 General's 26 network-affiliated television stations reach more than 30 percent
 of the television households in the Southeast, and nearly 8 percent of those
 in the United States.  The company's extensive interactive media offerings
 include more than 50 online enterprises.  Media General also has a 33 percent
 interest in SP Newsprint Co., which operates newsprint mills in Dublin, Ga.,
 and Newberg, Ore.
 
 SOURCE  Media General