Exhibit 12.1
Media General, Inc.
Computation of Ratio of Earnings to Fixed Charges
(in thousands, except ratio) (unaudited)
| | | | | | | | | | | | | | | | | | | | | | | | |
| | Three Months Ended March 28, 2010 | | | Years Ended | |
| | | December 27, 2009 | | | December 28, 2008 | | | December 30, 2007 | | | December 31, 2006 | | | December 25, 2005 | |
Pretax income (loss) from continuing operations less income/loss from equity investments | | $ | (10,734 | ) | | $ | (73,933 | ) | | $ | (910,326 | ) | | $ | 46,981 | | | $ | 88,643 | | | $ | 125,013 | |
Fixed charges | | | 20,312 | | | | 43,673 | | | | 45,428 | | | | 61,584 | | | | 50,238 | | | | 30,754 | |
Amortization of capitalized interest | | | 7 | | | | 40 | | | | 37 | | | | 142 | | | | 58 | | | | 46 | |
Distributed income of equity investees | | | — | | | | — | | | | — | | | | — | | | | — | | | | — | |
Less: Capitalized interest | | | (35 | ) | | | (214 | ) | | | (332 | ) | | | (1,378 | ) | | | (1,003 | ) | | | (789 | ) |
| | | | | | | | | | | | | | | | | | | | | | | | |
Earnings | | $ | (9,550 | ) | | $ | (30,434 | ) | | $ | (865,193 | ) | | $ | 107,329 | | | $ | 137,936 | | | $ | 155,024 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Interest expensed and capitalized (including amortization of premiums/discounts) | | $ | 19,823 | | | $ | 41,978 | | | $ | 43,449 | | | $ | 59,577 | | | $ | 48,505 | | | $ | 29,408 | |
Interest portion of rental expense | | | 489 | | | | 1,695 | | | | 1,979 | | | | 2,007 | | | | 1,733 | | | | 1,346 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Fixed Charges | | $ | 20,312 | | | $ | 43,673 | | | $ | 45,428 | | | $ | 61,584 | | | $ | 50,238 | | | $ | 30,754 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
Ratio of Earnings to Fixed Charges | | | 0.47 | | | | ** | | | | ** | | | | 1.74 | | | | 2.75 | | | | 5.04 | |
| | | | | | | | | | | | | | | | | | | | | | | | |
** | Earnings do not cover fixed charges by $74.1 million and $910.6 million during the fiscal years ended December 27, 2009, and December 28, 2008, respectively, due to non-cash impairment charges of $84.2 million and $912 million in the respective periods (see Note 2 to the Consolidated Financial Statements contained in Item 8 of the Company’s 2009 Form10-K). |