Media General reported weaker third-quarter results for its North Carolina properties, which include NBC 17 in Raleigh and the Winston-Salem Journal.
The Richmond, Va.-based company this morning reported a total net loss of $62.5 million. But CEO Marshall Morton said he is "seeing signs of strengthening in advertiser spending.
"We believe that local and national advertiser spending patterns are firming somewhat, especially on the broadcast side," Morton said in a prepared statement. "Media General is well positioned to benefit from an economic recovery."
As with most newspaper publishers and broadcasters, the recession and slump in ad spending has taken its toll on Media General. The company has 770 fewer full-time employees this year than last. And by the end of 2009, a furlough program will have included 15 unpaid days off per employee, including four days in the fourth quarter.