Revenue Update on Media General Inc(NYSE:MEG)

Media General Inc(NYSE:MEG) announced the earnings results for Fiscal Year 2016 and Q2. The results came in during Pre-market on Aug 5, 2016. Company reported revenue of $362.71M. Analysts estimated a revenue of $365.00M. Earnings per share were $0.14. Analysts had estimated an EPS of $0.16.

Media General Inc (MEG) shares turned negative on Wednesdays trading session with the shares closing down -0.04 points or -0.22% at a volume of 6,41,217. The pessimistic mood was evident in the company shares which never went considerably beyond the level of $17.98. The peak price level was also seen at $17.98 while the days lowest was $17.745. Finally the shares closed at $17.89. The 52-week high of the shares is $18.18 while the 52-week low is $9.74. According to the latest information available, the market cap of the company is $2,314 M.

Several Insider Transactions has been reported to the SEC. On Jul 18, 2016, John R Muse (director) sold 310,172 shares at $17.77 per share price.Also, On Mar 17, 2016, Deborah A Mcdermott (Senior VP and COO) sold 4,495 shares at $16.70 per share price.On Mar 3, 2016, Vincent L Sadusky (President and CEO) sold 16,288 shares at $16.87 per share price, according to the Form-4 filing with the securities and exchange commission.

Media General Inc. formerly Mercury New Holdco Inc. is a connected-screen multimedia company. The Company provides news information and entertainment. The Company’s segment include Broadcast segment which has around 71 television stations that are either owned operated or serviced by the Company in around 48 United States markets all of which are engaged principally in the sale of television advertising and Digital segment which includes digital companies: LIN Digital LIN Mobile HYFN Inc. (HYFN) Dedicated Media Inc. (Dedicated Media) BiteSize TV and Federated Media as well as the business operations related to the television station companion Websites. LIN Digital provides display and video advertising. LIN Mobile provides mobile advertising. Federated Media provides display and video advertising. Dedicated Media provides marketing data focusing and analytics for digital marketing campaigns. HYFN is a digital agency. BiteSize TV is a video content creator.

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