Before the market open on Friday, the Richmond-based news and information company reported earnings of 12 cents per share, lower than analysts' forecasts of 22 cents per share. Revenue of $366 million was slightly lower than Wall Street's forecasts of $372.72 million.
Additionally, Media General projected 2016 revenue to range between $332 million to $343 million, lower than analysts forecasts of $347.11 million.
In January, NexstarBroadcastingGroup (NXST) offered to buy Media General for about $4.6 billion.
"We are excited about 2016 as we will realize a full-year of synergies and look forward to the return of political and Olympic advertising," CEO Vincent Sadusky said in a statement. "We are also eager to complete our transaction with Nexstar, which will result in a stronger local media company that is better able to serve its communities and advertisers."
Separately, recently, TheStreet Ratings objectively rated this stock according to its "risk-adjusted" total return prospect over a 12-month investment horizon. Not based on the news in any given day, the rating may differ from Jim Cramer's view or that of this articles's author.
TheStreet Ratings rates this stock as a "sell" with a ratings score of E+. The company's weaknesses can be seen in multiple areas, such as its deteriorating net income, disappointing return on equity, weak operating cash flow, generally high debt management risk and feeble growth in its earnings per share.
You can view the full analysis from the report here: MEG