Media General, the Richmond, Va.-based publisher of the Richmond Times-Dispatch and The Tampa Tribune, says it lost money in the last three months because of falling ad revenue and a big one-time charge, the Associated Press reports.
Revenue fell 18 percent year-to-year, and CEO Marshall Morton said the “advertising environment in the third quarter remained challenging.” The publisher also claimed a write-down in the value of its assets reduced profits by $84 million.