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Richmond, Va.-Based Media General Reports Rise in Fourth-Quarter Income.
Jan. 29--Media General Inc.'s fourth-quarter income from continuing operations increased 11.3 percent to $23.7 million, or $1 per share, compared with $21.3 million, or 92 cents per share, a year before.
Net income, which includes results from the Richmond company's financial-services operations and a gain from the sale of that business in October, was $30.5 million, or $1.29 per share, compared with $21.6 million, or 93 cents per share, a year earlier.
"Our fourth-quarter earnings per share from continuing operations exceeded our expectations, principally because of lower than expected newsprint expense in the publishing division, higher than expected …
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