WINSTON-SALEM, N.C. — Media General Inc. made clearer Wednesday its intent to sell its newspaper division, which includes the Winston-Salem Journal.
Marshall Morton, the company’s president and chief executive, said during an earnings call with analysts that the strategy — which it made public Feb. 22 — “makes sense for us.”
“While newspapers have struggled mightily, television broadcasting and digital businesses have performed well and are poised for future growth,” Morton said.
The company also reported a $34.4 million loss in the first quarter, primarily because of two extraordinary charges.
Jim Woodward, chief financial officer, said there have been numerous inquiries about the newspaper division, including purchasing the entire division, buying newspapers in regional clusters and buying properties individually.
This article was written by Michael Hewlett and originally published by The Winston-Salem Journal. Click here to read more.