Montrose Environmental 10-Q 9 May 16 2016 Q1 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
	Mar. 31, 2016	May. 04, 2016
Document and Entity Information [Abstract]
Entity Registrant Name	MEDIA GENERAL INC
Document Type	10-Q
Current Fiscal Year End Date	--12-31
Entity Common Stock, Shares Outstanding		129,272,908
Amendment Flag	false
Entity Central Index Key	216,539
Entity Filer Category	Large Accelerated Filer
Document Period End Date	Mar. 31, 2016
Document Fiscal Year Focus	2,016
Document Fiscal Period Focus	Q1

Consolidated Condensed Balance

Consolidated Condensed Balance Sheets - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015
Current assets:
Cash and cash equivalents		$ 33,593	$ 41,091
Trade accounts receivable (less allowance for doubtful accounts 2016 - $4,448; 2015 - $4,634)		291,889	298,474
Prepaid expenses and other current assets		17,387	15,083
Total current assets		342,869	354,648
Property and equipment, net of accumulated depreciation 2016 - $162,653 ; 2015 - $145,274		457,418	470,537
Other assets, net		32,910	38,070
Definite lived intangible assets, net of accumulated amortization 2016 - $160,897; 2015 - $138,072		849,839	871,129
Broadcast licenses		1,097,100	1,097,100
Goodwill		1,544,624	1,544,624
Total assets	[1]	4,324,760	4,376,108
Current liabilities:
Trade accounts payable		19,854	35,800
Accrued salaries and wages		21,129	21,465
Accrued expenses and other current liabilities		108,110	95,500
Current installments of long-term debt		3,514	3,804
Current installments of obligation under capital leases		841	859
Total current liabilities		153,448	157,428
Long-term debt, net		2,200,343	2,199,110
Deferred tax liability and other long-term tax liabilities		293,973	315,234
Long-term capital lease obligations		13,810	14,012
Retirement and postretirement plans		179,377	182,987
Other liabilities		33,287	34,920
Total liabilities	[2]	$ 2,874,238	$ 2,903,691
Commitments and contingencies
Noncontrolling interests		$ 37,465	$ 24,447
Stockholders' equity:
Preferred stock (no par value): authorized 50,000,000 shares; none outstanding		0	0
Voting common stock, authorized 400,000,000 shares; issued 2016 - 129,241,012 and 2015 - 128,600,384		1,296,879	1,305,155
Accumulated other comprehensive loss		(31,224)	(31,224)
Retained earnings		147,402	174,039
Total stockholders' equity		1,413,057	1,447,970
Total liabilities, noncontrolling interest and stockholders' equity (deficit)		4,324,760	4,376,108
Total assets of variable interest entities(VIE)		142,000	145,000
Total liabilities of variable interest entities (VIE)		$ 36,000	$ 38,000
[1]	Consolidated assets as of March 31, 2016 and December 31, 2015, include total assets of variable interest entities (VIEs) of $142 million and $145 million, respectively, which can only be used to settle the obligations of the VIEs. See Note 1 and Note 3.
[2]	Consolidated liabilities as of March 31, 2016 and December 31, 2015, include total liabilities of VIEs of $36 million and $38 million, respectively, for which the creditors of the VIEs have no recourse to the Company, except for certain of the debt, which the Company guarantees. See Note 1 and Note 3.

Consolidated Condensed Balance3

Consolidated Condensed Balance Sheets (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Statement of Financial Position [Abstract]
Trade accounts receivable, allowance for doubtful accounts (in Dollars)	$ 4,448	$ 4,634
Accumulated depreciation	162,653	145,274
Accumulated amortization	$ 160,897	$ 138,072
Preferred stock par value (in Dollars per share)	$ 0	$ 0
Preferred stock, shares authorized	50,000,000	50,000,000
Preferred stock, shares outstanding	0	0
Common stock, par value (in Dollars per share)	$ 0	$ 0
Common stock, shares authorized	400,000,000	400,000,000
Common stock, shares issued	129,241,012	128,600,384

Consolidated Condensed Statemen

Consolidated Condensed Statements of Comprehensive Income - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Statement of Comprehensive Income [Abstract]
Net operating revenue	$ 343,463	$ 296,734
Operating costs:
Operating expenses, excluding depreciation expense	151,143	125,876
Selling, general and administrative expenses	78,321	80,470
Amortization of program license rights	12,066	11,758
Corporate and other expenses	10,352	12,651
Depreciation and amortization	40,121	40,283
Gain related to property and equipment, net	(768)	(228)
Merger-related expenses	65,882	5,277
Restructuring expenses	3,982	0
Total operating costs	361,099	276,087
Operating income (loss)	(17,636)	20,647
Other income (expense):
Interest expense	(28,556)	(31,023)
Debt modification and extinguishment costs	0	(613)
Other, net	74	3,290
Total other income (expense)	(28,482)	(28,346)
Loss before income taxes	(46,118)	(7,699)
Income tax benefit	20,405	3,157
Net income (loss)	(25,713)	(4,542)
Net income attributable to noncontrolling interests (included above)	477	2,891
Net loss attributable to Media General	(26,190)	(7,433)
Other comprehensive income	0	0
Total comprehensive loss attributable to Media General	$ (26,190)	$ (7,433)
Earnings (loss) per common share (basic and diluted):
Net loss per common share (basic) (in dollars per share)	$ (0.20)	$ (0.06)
Net loss per common share (assuming dilution) (in dollars per share)	$ (0.20)	$ (0.06)

Consolidated Condensed Stateme5

Consolidated Condensed Statements of Cash Flows - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net loss	$ (25,713)	$ (4,542)
Deferred income tax benefit	(21,261)	(3,357)
Depreciation and amortization	40,121	40,283
Amortization of program license rights	12,066	11,758
Amortization of debt premiums, discounts and issue costs	2,033	308
Gain related to property and equipment, net	(768)	(228)
Gain on relocation of spectrum	0	(3,120)
Stock-based compensation	2,078	3,010
Debt modification and extinguishment costs	0	613
Program license rights, net of liabilities	(12,110)	(10,867)
Trade accounts receivable	6,330	31,080
Company owned life insurance (cash surrender value less policy loans including repayments)	(312)	(519)
Trade accounts payable, accrued expenses and other liabilities	(3,728)	(3,932)
Contributions to retirement plans	0	(1,250)
Other, net	(3,535)	(2,818)
Net cash (used) provided by operating activities	(4,799)	56,419
Cash flows from investing activities:
Capital expenditures	(6,763)	(7,209)
Proceeds from the sale of property and equipment	3,976	262
Proceeds from spectrum relocation	0	620
Other, net	(10)	(5)
Net cash provided (used) by investing activities	(2,797)	(6,332)
Cash flows from financing activities:
Repayments of borrowings	(800)
Borrowings under Media General Revolving Credit Facility	30,000	0
Repayments under Media General Revolving Credit Facility	(30,000)	0
Repayment of other borrowings	(290)	(290)
Exercise of stock options	1,408	958
Other, net	(220)	(764)
Net cash provided (used) by financing activities	98	(35,696)
Net (decrease) increase in cash and cash equivalents	(7,498)	14,391
Cash and cash equivalents at beginning of period	41,091	43,920
Cash and cash equivalents at end of period	33,593	58,311
Cash paid for interest	24,973	29,444
Cash paid for income taxes, net	618	1,963
Cash paid for Meredith termination fee	60,000	0
Media General Credit Agreement [Member]
Cash flows from financing activities:
Repayments of borrowings	0	(35,000)
Shield Media Credit Agreement [Member]
Cash flows from financing activities:
Repayments of borrowings	$ (800)	$ (600)

Basis of Presentation

Basis of Presentation	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Basis of Presentation	Basis of Presentation The accompanying unaudited consolidated condensed financial statements have been prepared in accordance with accounting principles generally accepted in the United States and with applicable quarterly reporting regulations of the Securities and Exchange Commission. They do not include all of the information and footnotes required by generally accepted accounting principles for complete financial statements and, accordingly, should be read in conjunction with the consolidated financial statements and related footnotes included in the Annual Report on Form 10-K of Media General, Inc. ("Media General" or the "Company") for the year ended December 31, 2015 . In the opinion of management, all adjustments (consisting of normal recurring adjustments) considered necessary for a fair presentation of interim financial information have been included. In September 2015 the Company announced a merger agreement under which the Company would have acquired all of the outstanding common stock of Meredith Corporation (“Meredith”) in a cash and stock transaction. Later in September of 2015 the Company received an unsolicited proposal from Nexstar Broadcasting Group, Inc. (“Nexstar”) to acquire all of the outstanding common stock of Media General. Following discussion between the various parties, in January 2016 Media General terminated its agreement with Meredith with Media General paying Meredith a $60 million termination fee and providing Meredith with an opportunity to negotiate for the purchase of certain broadcast and digital assets owned by the Company. Immediately thereafter, the Company entered into an agreement with Nexstar whereby Nexstar will acquire all outstanding shares of Media General for $10.55 per share in cash, 0.1249 shares of Nexstar Class A common stock for each Media General share and a contingent value right (CVR). The cash consideration and the stock consideration are fixed amounts and do not increase or decrease based upon the proceeds (if any) from the disposition of either Nexstar's or Media General's spectrum in the FCC auction. Upon the completion of the transaction, Nexstar will change its name to Nexstar Media Group. Each CVR will entitle Media General shareholders to a pro rata share of the net cash proceeds as received from the sale of Media General's spectrum in the Federal Communication Commission's upcoming Incentive Auction. It is estimated that Media General shareholders will own approximately 34% and existing Nexstar shareholders will retain approximately 66% ownership of the combined company after closing. The closing of the transaction is subject to the satisfaction of a number of conditions including, but not limited to, the approval of various matters relating to the transaction by Media General and Nexstar shareholders, the approval of the Federal Communications Commission (“FCC”), clearance under the Hart-Scott-Rodino antitrust act and certain third party consents. Merger-related expenses for the Meredith termination fee, legal and professional fees for the Meredith and Nexstar transactions totaled $66 million for the quarter ended March 31, 2016. The consolidated financial statements include the financial statements of the Company and its wholly owned subsidiaries and certain variable interest entities (“VIE”) for which the Company is considered to be the primary beneficiary. Intercompany accounts and transactions have been eliminated in consolidation. In determining whether the Company is the primary beneficiary of a VIE for financial reporting purposes, the Company considers whether it has the power to direct certain activities of the VIE that most significantly impact the economic performance of the VIE and whether it has the obligation to absorb losses or the right to receive returns that would be significant to the VIE. Assets of consolidated VIE’s can only be used to settle the obligations of that VIE. As discussed in Note 3, the Company consolidates the results of WXXA, WLAJ, WBDT, WYTV, KTKA, KWBQ, KRWB, and KASY pursuant to the VIE accounting guidance. All the liabilities are non-recourse to the Company, except for certain of the debt, which the Company guarantees. The Company is also the primary beneficiary of the VIE that holds the Supplemental 401(k) Plan’s investments and consolidates the plan accordingly. The Company has two reportable segments, “Broadcast” and “Digital” that are disclosed separately from our corporate activities. The Broadcast segment includes 71 television stations that are either owned, operated or serviced by the Company in 48 markets, all of which are engaged principally in the sale of television advertising. The Digital segment includes the operating results of the Company's digital businesses as well as the business operations related to the television station companion websites. The Company guarantees all of the debt of LIN Television Corporation ("LIN Television", a wholly owned subsidiary of the Company) and the debt of its consolidated VIEs. LIN Television guarantees all of the debt of its restricted wholly owned subsidiaries and the debt of its consolidated VIEs. All of the consolidated wholly owned subsidiaries of LIN Television fully and unconditionally guarantee LIN Television's 5.875% Senior Notes due 2022 (the “2022 Notes”) and the 6.375% Senior Notes due 2021 (the "2021 Notes") on a joint-and-several basis, subject to customary release provisions. In May 2014, the Financial Accounting Standards Board (“FASB”) and the International Accounting Standards Board (“IASB”) issued a converged standard on revenue recognition from contracts with customers, Accounting Standards Update ("ASU") 2014-09 (Topic 606 and IFRS 15). This standard will supersede nearly all existing revenue recognition guidance. In August 2015 the FASB issued ASU 2015-14, Revenue From Contracts With Customers: Deferral of the Effective Date which defers the effective date of ASU 2014-09 until fiscal years, and interim periods within those years, beginning after December 15, 2017. The Company is currently evaluating the impact this guidance will have on its financial condition, results of operations and cash flows. In April 2015, the FASB issued ASU 2015-03, Simplifying the Presentation of Debt Issuance Costs ("ASU 2015-03"). ASU 2015-03 requires that debt issuance costs related to a recognized debt liability be presented in the balance sheet as a direct deduction from the carrying amount of that debt liability. ASU 2015-03 is effective for annual periods beginning on or after December 15, 2015. The Company adopted this guidance as of January 1, 2016 and $30.7 million was reclassified to reduce "Long-term Debt" as of March 31, 2016. In order to conform to the presentation adopted $32.2 million was reclassified from "Other assets, net" to "Long-term Debt" in the 2015 figures presented on the Consolidated Condensed Balance Sheets and in Note 10 Guarantor Financial Information. Approximately $285 thousand was reclassified from "Other assets, net" to "Long-term Debt" in the 2015 figures presented in Note 3 Variable Interest Entities. In February 2016, the FASB issued ASU 2016-02, Leases , which requires the lease rights and obligations arising from lease contracts, including existing and new arrangements, to be recognized as assets and liabilities on the balance sheet. ASU 2016-02 is effective for reporting periods beginning after December 15, 2018 with early adoption permitted. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements. In March 2016, the FASB released ASU 2016-09, Compensation - Stock Compensation (Topic 718): Improvements to Employee Share-Based Payment Accounting. The ASU includes multiple provisions intended to simplify various aspects of the accounting for share-based payments. The Company is currently evaluating the impact that this guidance will have on its consolidated financial statements. The ASU is effective for public companies in annual periods beginning after December 15, 2016, and interim periods within those years.

Segment Information

Segment Information	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Segment Information	Segment Information The Company has two reportable operating segments, “Broadcast” and “Digital” that are disclosed separately from our corporate activities. The Broadcast segment includes 71 television stations that are either owned, operated or serviced by the Company in 48 U.S. markets, all of which are engaged principally in the sale of television advertising. The Digital segment includes the operating results of the digital companies (Federated Media and HYFN) as well as the business operations related to the television station companion websites. Unallocated corporate expenses primarily include costs to operate as a public company and to operate corporate locations. The Company identifies operating segments based on how the chief operating decision maker (“CODM”) allocates resources, assesses performance and makes decisions. The CODM is the President, and Chief Executive Officer. The CODM evaluates performance and allocates resources based on operating income or loss for the Broadcast and Digital segments, excluding non-segment expenses. Three Months Ended March 31, (in thousands) 2016 2015 Revenues Broadcast $ 305,593 $ 266,484 Digital 37,870 30,250 Revenues $ 343,463 $ 296,734 Three Months Ended March 31, (in thousands) 2016 2015 Operating income Broadcast $ 103,618 $ 80,821 Digital (1,685 ) (2,191 ) Segment operating income 101,933 78,630 Corporate and other expenses (10,352 ) (12,651 ) Depreciation and amortization (40,121 ) (40,283 ) Gain related to property and equipment, net 768 228 Merger-related expenses (65,882 ) (5,277 ) Restructuring expenses (3,982 ) — Operating income (loss) $ (17,636 ) $ 20,647

Variable Interest Entities

Variable Interest Entities	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Variable Interest Entities	Variable Interest Entities Certain of the Company's broadcast stations provide services to other station owners within the same market via Joint Sales Agreements ("JSA") and/or Shared Service Agreements ("SSA"). The Company has JSA and/or SSA agreements with 8 stations. Depending on the specific terms of these agreements, the Company may provide a variety of operational and administrative services, assume an obligation to reimburse certain expenses of the stations and guarantee certain external borrowings by the station parent companies (refer to Note 6 for guaranteed borrowings). The Company is compensated for these services through performance based and/or administrative fees. Under certain JSAs, the Company has an option to acquire the related station at any time, subject to FCC consent, until the expiration of the applicable JSA. The Company has determined that the stations with which it has JSAs and/or SSAs, and certain of their parent companies, are VIEs as a result of the terms of the agreements. The Company is the primary beneficiary of the VIEs, because (a) subject to the ultimate control of the broadcast licensees, the Company has the power to direct the activities which significantly impact the economic performance of the VIEs through the services the Company provides and (b) the Company absorbs returns and losses which would be considered significant to the VIEs. Therefore, the financial results and financial position of these entities have been consolidated by the Company in accordance with the VIE accounting guidance. The carrying amounts and classification of the assets and liabilities of the consolidated VIE entities described above, which have been included in the consolidated balance sheets as of March 31, 2016 , and December 31, 2015 , were as follows: (In thousands) March 31, December 31, Assets Current assets Cash and cash equivalents $ 3,554 $ 3,693 Trade accounts receivable (less allowance for doubtful accounts 2016 - $89; 2015 - $94) 7,985 9,798 Prepaid expenses and other current assets 715 796 Total current assets 12,254 14,287 Property and equipment, net 1,937 1,904 Other assets, net 2,874 3,094 Definite lived intangible assets, net 31,479 32,244 Broadcast licenses 71,300 71,300 Goodwill 21,859 21,859 Total assets $ 141,703 $ 144,688 Liabilities Current liabilities Trade accounts payable $ 13 $ 16 Other accrued expenses and other current liabilities 1,974 2,221 Current installments of long-term debt 3,514 3,804 Total current liabilities 5,501 6,041 Long-term debt, net 23,285 24,062 Other liabilities 6,981 8,310 Total liabilities $ 35,767 $ 38,413 The assets of the Company’s consolidated VIEs can only be used to settle the obligations of the VIEs and may not be sold, or otherwise disposed of, except for assets sold or replaced with others of like kind or value. At March 31, 2016, the Company has an option to acquire the assets or member's interest of the VIE entities that it may exercise if the FCC attribution rules change to permit the Company to acquire such interest. The option exercise price is of nominal value and significantly less than the carrying value of their tangible and intangible net assets. The options are carried at zero on the Company’s consolidated balance sheet, as any value attributable to the options is eliminated in the consolidation of the VIEs. In an order adopted in March 2014, the FCC concluded that JSAs should be “attributable” for purposes of the media ownership rules if they permit a television licensee to sell more than 15% of the commercial inventory of a television station owned by a third party in the same market. Pursuant to the Consolidated Appropriations Act of 2016, the Company will be required to modify or terminate its existing JSAs no later than September 30, 2025, unless they are able to obtain a waiver of such rules. Accordingly, absent further developments, or the grant of waivers, the Company continues to monitor regulatory developments and evaluate potential changes to its JSA and SSA arrangements.

Debt and Other Financial Instru

Debt and Other Financial Instruments	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Debt and Other Financial Instruments	Debt and Other Financial Instruments Long-term debt at March 31, 2016 , and December 31, 2015 , was as follows: (In thousands) 2016 2015 Media General Credit Agreement $ 1,541,000 $ 1,541,000 2022 Notes 400,000 400,000 2021 Notes 275,000 275,000 Shield Media Credit Agreement 26,400 27,200 Other borrowings 659 950 Total debt 2,243,059 2,244,150 Less: net unamortized discount (8,531 ) (8,992 ) Less: scheduled current maturities (3,514 ) (3,804 ) Less: unamortized debt issuance fees (30,671 ) (32,244 ) Long-term debt excluding current maturities $ 2,200,343 $ 2,199,110 Media General Credit Agreement In July 2013, the Company entered into a credit agreement with a syndicate of lenders to provide the Company with a term loan and access to a revolving credit facility. The funds borrowed under the credit agreement and subsequent amendments (together the "Credit Agreement") have been used by the Company to facilitate acquisitions and mergers. The term loan under the Credit Agreement matures in July 2020 and bears interest at LIBOR (with a floor of 1% ) plus a margin of 3% . There were no principal repayments on the term loan during the first quarter of 2016. The Company repaid $35 million of principal on the term loan during the three months ended March 31, 2015. The early repayment of debt resulted in debt extinguishment costs of $0.6 million during the three months ended March 31, 2015 due to the accelerated recognition of deferred debt-related items. As of March 31, 2016, there was $1.5 billion outstanding under the Credit Agreement. The revolving credit facility under the Credit Agreement also includes revolving credit commitments of $150 million . The revolving credit facility matures in October 2019, bears an interest rate of LIBOR plus a margin of 2.50% and is subject to a 0.5% commitment fee per annum with respect to the undrawn portion of the facility. The Company has $146 million of availability under the revolving credit facility (giving effect to $4 million of letters of credit which have been issued but are undrawn). Shield Media Credit Agreement Shield Media LLC (and its subsidiary WXXA) and Shield Media Lansing LLC (and its subsidiary WLAJ) (collectively, “Shield Media”), companies that control subsidiaries with which the Company has joint sales and shared services arrangements for 2 stations as described in Note 3, entered into a new credit agreement with a syndicate of lenders, dated July 31, 2013. The term loans outstanding under this agreement mature in July 2018 and bear interest at LIBOR plus a margin of 3% . The Shield Media term loans are guaranteed by the Company and are secured by liens on substantially all of the assets of the Company, on a pari passu basis with the Credit Agreement. The Company repaid $0.8 million and $0.6 million of principal on the term loan during the three months ended March 31, 2016 and 2015, respectively. 2022 Notes On November 5, 2014, the Company's predecessor, MGOC, Inc. ("Old Media General") completed the issuance of $400 million in aggregate principal amount of 5.875% Senior Unsecured Notes due in 2022 (the “2022 Notes”) in connection with the financing of the Old Media General's combination (the "LIN Merger") with LIN Media, LLC ("LIN Media"). The net proceeds from the offering of the 2022 Notes were used to repay certain indebtedness of LIN Media in connection with the LIN Merger, including the satisfaction and discharge of LIN Television’s $200 million aggregate principal amount of 8.375% Senior Notes due 2018 and the payment of related fees and expenses. The 2022 Notes were issued under an indenture, dated as of November 5, 2014 (the “2022 Notes Indenture”). Media General, as the direct parent of LIN Television, and certain of the wholly owned subsidiaries of LIN Television provide full and unconditional guarantees to the 2022 Notes, on a senior basis. 2021 Notes LIN Television’s previously issued 6.375% Senior Notes due 2021 (the "2021 Notes") remained outstanding as of the consummation of the LIN Merger. Following the consummation of the LIN Merger, Media General, as the new direct parent of LIN Television, and certain of the wholly owned subsidiaries of LIN Television provide full and unconditional guarantees of the 2021 Notes, on a senior basis. The Company received an unsolicited offer and repaid $15 million of principal at an $800 thousand premium during the year ended December 31, 2015. No principal payments were made during the first quarter of 2016. As of March 31, 2016 , the aggregate principal amount outstanding under the 2021 Notes was $275 million . Fair Value The following table includes information about the carrying values and estimated fair values of the Company’s financial instruments at March 31, 2016 , and December 31, 2015 : March 31, 2016 December 31, 2015 Carrying Fair Carrying Fair (In thousands) Amount Value Amount Value Assets: Investments Trading securities $ 274 $ 274 $ 257 $ 257 Liabilities: Long-term debt: Media General Credit Agreement 1,508,934 1,545,471 1,507,182 1,529,229 2022 Notes 392,799 406,898 392,527 404,344 2021 Notes 275,324 302,502 275,340 288,228 Shield Media Credit Agreement 26,140 26,140 26,915 27,200 Other borrowings 659 659 950 950 Trading securities held by the Supplemental 401(k) Plan are carried at fair value and are determined by reference to quoted market prices. The fair values of the 2021 and 2022 Notes were determined by reference to the most recent trading prices. The fair value of all other debt instruments were determined using discounted cash flow analysis' and an estimate of the current borrowing rate. Under the fair value hierarchy, the Company’s trading securities fall under Level 1 (quoted prices in active markets), the 2021 and 2022 Notes fall under Level 2 (other observable inputs) and the Media General Credit Agreement, Shield Media Credit Agreement and Other Borrowings fall under Level 3 (unobservable inputs).

Taxes on Income

Taxes on Income	3 Months Ended
	Mar. 31, 2016
Income Tax Disclosure [Abstract]
Taxes on Income	Taxes on Income The effective tax benefit was 44.2% in the first quarter of 2016 as compared to 41.0% in the first quarter of 2015. The higher tax benefit is due primarily to a discrete tax benefit recorded in the first quarter of 2016 related to failed merger-related expenses recorded in the prior year. In 2016 the Company adopted Approach I as defined under ASC 740 with respect to merger-related expenses and has provided tax benefit on “sell-side” merger expenses until the proposed transaction is finalized. Ultimately, some of these expenses may be non-deductible. The tax expense in both years was predominantly non-cash due to the Company’s significant net operating loss carryover. Current tax expense was approximately $0.9 million and $0.2 million for the first quarters of 2016 and 2015, respectively; it was attributable primarily to state income taxes.

Earnings Per Share

Earnings Per Share	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Earnings Per Share	Earnings Per Share The following table sets forth the computation of basic and diluted income per share for the three months ended March 31, 2016 , and 2015 : Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 (In thousands, except Income Shares Per Share Income Shares Per Share per share amounts) (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income (loss) attributable to Media General $ (26,190 ) $ (7,433 ) Undistributed earnings attributable to participating securities — — Basic EPS Income (loss) attributable to common stockholders $ (26,190 ) 128,595 $ (0.20 ) $ (7,433 ) 129,384 $ (0.06 ) Effect of dilutive securities: Stock options and warrants — — Diluted EPS Income (loss) attributable to common stockholders $ (26,190 ) 128,595 $ (0.20 ) $ (7,433 ) 129,384 $ (0.06 ) We have excluded 1.2 million and 1.1 million of common shares issuable for share options and restricted shares from the calculation of diluted earnings per share for the three months ended March 31, 2016 and 2015, respectively, because the net loss causes these shares to be anti-dilutive.

Retirement and Postretirement P

Retirement and Postretirement Plans	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Retirement and Postretirement Plans	Retirement and Postretirement Plans The Company has a funded, qualified non-contributory defined benefit retirement plan which covers substantially all Legacy Media General employees hired before 2007 along with defined benefit retirement plans for KRON-TV and LIN that were merged into the Media General qualified plan on December 31, 2014 and December 31, 2015, respectively. Additionally the Company has a non-contributory unfunded supplemental executive retirement and ERISA excess plans which supplement the coverage available to certain executives. All of these retirement plans are frozen. The Company also has a retiree medical savings account plan which reimburses eligible retired employees for certain medical expenses and an unfunded plan that provides certain health and life insurance benefits to retired employees who were hired prior to 1992. The following tables provide the components of net periodic benefit cost (income) for the Company’s benefit plans for the first quarters of 2016 and 2015 : Three Months Ended Pension Benefits Other Benefits (In thousands ) March 31, March 31, March 31, March 31, Service cost $ — $ — $ — $ 10 Interest cost 4,650 7,400 200 110 Expected return on plan assets (6,950 ) (9,981 ) — — Amortization of net loss — 258 (25 ) — Net periodic benefit (income) cost $ (2,300 ) $ (2,323 ) $ 175 $ 120

Stockholders' Equity

Stockholders' Equity	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Stockholders' Equity	Stockholders’ Equity The following table shows the components of the Company’s stockholders’ equity as of and for the three months ended March 31, 2016 : Accumulated Other Total Common Stock Comprehensive Retained Stockholders' (In thousands) Voting Non-Voting Loss Earnings Equity Balance at December 31, 2015 $ 1,305,155 $ — $ (31,224 ) $ 174,039 $ 1,447,970 Net loss attributable to Media General — — (26,190 ) (26,190 ) Exercise of stock options 1,408 — — — 1,408 Stock-based compensation 2,078 — — — 2,078 Revaluation of redeemable noncontrolling interest (12,094 ) — — (447 ) (12,541 ) Other 332 — — — 332 Balance at March 31, 2016 $ 1,296,879 $ — $ (31,224 ) $ 147,402 $ 1,413,057 The following table shows the components of the Company’s stockholders’ equity as of and for the three months ended March 31, 2015 : Accumulated Other Total Common Stock Comprehensive Retained Stockholders' (In thousands) Voting Non-Voting Income Earnings Equity Balance at December 31, 2014 $ 1,322,284 $ — $ (36,445 ) $ 214,582 $ 1,500,421 Net income attributable to Media General — — — (7,433 ) (7,433 ) Exercise of stock options 1,034 — — — 1,034 Stock-based compensation 3,010 — — — 3,010 Revaluation of redeemable noncontrolling interest — — — (586 ) (586 ) Other (633 ) — — — (633 ) Balance at March 31, 2015 $ 1,325,695 $ — $ (36,445 ) $ 206,563 $ 1,495,813

Other

Other	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
Other	Other Restructuring activities In the first quarter of 2016, the Company took additional steps under a plan to restructure certain digital segment operations that began in September 2015. The plan is expected to save the Company approximately $14.7 million in operating costs annually based on the steps completed since plan inception. The Company recorded restructuring expense of $2.5 million related to the plan during the first quarter ended March 31, 2016 comprised of $1.8 million of severance and $630 thousand of lease termination charges. On October 16, 2009, Media General entered into a Joint Sales Agreement (“JSA”) and Shared Services Agreement (“SSA”) with Schurz Communications, Inc and WAGT Television, Inc. Pursuant to the JSA and SSA, Media General provided certain services and sold advertising time for WAGT. In February 2016, Schurz Communications, Inc. sold WAGT to Gray Television Group, Inc., ("Gray") and assigned the JSA and SSA to Gray. However, upon the closing of the station sale, WAGT ceased performance of the agreements. For the first quarter ending March 31, 2016, the Company recorded a restructuring charge of $1.5 million for WAGT. As of March 31, 2016, Media General is still pursing legal causes of action against Gray, and Schurz Communications, Inc. and WAGT Television, Inc., including but not limited to, causes of action for breach of contract. The following tables present the activity associated with the March 31, 2016 balance of the restructuring liability and the nature and amount of exit charges incurred in the three months ended March 31, 2016: As of March 31, 2016 (In thousands ) Digital WAGT Total Accrued restructuring as of December 31, 2015 $ 1,312 $ — $ 1,312 Severance charges 1,826 538 2,364 Contract termination charges 630 172 802 Cash severance payments (1,594 ) — (1,594 ) Accrued restructuring as of March 31, 2016 $ 2,174 $ 710 $ 2,884 Three months ended March 31, 2016 (In thousands ) Digital WAGT Total Severance charges $ 1,826 $ 538 $ 2,364 Contract termination charges 630 172 802 Asset impairment — 282 282 Legal fees — 477 477 Other — 57 57 Total restructuring expense $ 2,456 $ 1,526 $ 3,982 Subsequent Event In April 2016, the Company acquired the remaining shares of HYFN, a full service digital advertising agency for a purchase price of approximately $35 million plus one-time compensation expense of $7 million related to the transaction for a total cash outflow of $42 million . Prior to the transaction, the Company held 50.1% of the outstanding shares of HYFN. For the first quarter ended March 31, 2016, the Company increased the value of noncontrolling interest in HYFN by $12.1 million .

Guarantor Financial Information

Guarantor Financial Information	3 Months Ended
	Mar. 31, 2016
Condensed Financial Statements Guarantor Financials [Abstract]
Guarantor Financial Information	Guarantor Financial Information LIN Television, a 100% owned subsidiary of Media General, is the primary obligor of the 2021 Notes and 2022 Notes. Media General fully and unconditionally guarantees all of LIN Television’s obligations under the 2021 Notes and the 2022 Notes on a joint and several basis. Additionally, all of the consolidated 100% owned subsidiaries of LIN Television fully and unconditionally guarantee LIN Television’s obligations under the 2021 Notes and 2022 Notes on a joint and several basis. There are certain limitations in the ability of the subsidiaries to pay dividends to Media General. The following financial information presents condensed consolidating balance sheets, statements of operations, and statements of cash flows for Media General, LIN Television (as the issuer), the Guarantor Subsidiaries, and the Non-Guarantor Subsidiaries, together with certain eliminations. Media General, Inc. Condensed Consolidating Balance Sheet March 31, 2016 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ — $ 29,512 $ 4,081 $ — $ 33,593 Trade accounts receivable, net — 77,599 183,913 30,377 — 291,889 Prepaid expenses and other current assets — 2,743 13,144 1,500 — 17,387 Total current assets — 80,342 226,569 35,958 — 342,869 Property and equipment, net — 153,261 301,380 2,777 — 457,418 Other assets, net — 727 29,038 3,145 — 32,910 Definite lived intangible assets, net — 359,722 445,675 44,442 — 849,839 Broadcast licenses — — 1,025,800 71,300 — 1,097,100 Goodwill — 527,077 924,708 92,839 — 1,544,624 Advances to consolidated subsidiaries — (237,643 ) 254,351 (16,708 ) — — Investment in consolidated subsidiaries 1,413,057 1,296,899 — — (2,709,956 ) — Total assets $ 1,413,057 $ 2,180,385 $ 3,207,521 $ 233,753 $ (2,709,956 ) $ 4,324,760 LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT) Current liabilities: Trade accounts payable $ — $ 399 $ 16,459 $ 2,996 $ — $ 19,854 Accrued salaries and wages — 3,850 16,709 570 — 21,129 Accrued expenses and other current liabilities — 22,291 80,050 5,769 — 108,110 Current installments of long-term debt — — — 3,514 — 3,514 Current installments of obligation under capital leases — 575 246 20 — 841 Total current liabilities — 27,115 113,464 12,869 — 153,448 Long-term debt, net — 668,122 1,508,935 23,286 — 2,200,343 Deferred tax liability and other long-term tax liabilities — 58,015 237,358 (1,400 ) — 293,973 Long-term capital lease obligations — 12,811 999 — — 13,810 Retirement and postretirement plans — — 179,377 — — 179,377 Other liabilities — 1,265 27,056 4,966 — 33,287 Total liabilities — 767,328 2,067,189 39,721 — 2,874,238 Noncontrolling interests — — — 37,465 — 37,465 Total stockholders (deficit) equity 1,413,057 1,413,057 1,140,332 156,567 (2,709,956 ) 1,413,057 Total liabilities, noncontrolling interest and stockholders' equity (deficit) $ 1,413,057 $ 2,180,385 $ 3,207,521 $ 233,753 $ (2,709,956 ) $ 4,324,760 Media General, Inc. Condensed Consolidating Balance Sheet December 31, 2015 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 1,103 $ 35,925 $ 4,063 $ — $ 41,091 Trade accounts receivable, net — 75,866 192,306 30,302 — 298,474 Prepaid expenses and other current assets — 3,264 10,441 1,378 — 15,083 Total current assets — 80,233 238,672 35,743 — 354,648 Property and equipment, net — 158,627 309,160 2,750 — 470,537 Other assets, net — 7,199 27,523 3,348 — 38,070 Definite lived intangible assets, net — 368,011 458,261 44,857 — 871,129 Broadcast licenses — — 1,025,800 71,300 — 1,097,100 Goodwill — 527,077 924,708 92,839 — 1,544,624 Advances to consolidated subsidiaries — (206,396 ) 223,051 (16,655 ) — Investment in consolidated subsidiaries 1,447,970 1,319,392 — — (2,767,362 ) — Total assets $ 1,447,970 $ 2,254,143 $ 3,207,175 $ 234,182 $ (2,767,362 ) $ 4,376,108 LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT) Current liabilities: Trade accounts payable $ — $ 2,010 $ 30,689 $ 3,101 $ — $ 35,800 Accrued salaries and wages — 2,022 19,016 427 — 21,465 Accrued expenses and other current liabilities — 23,237 68,101 4,162 — 95,500 Current installments of long-term debt — — — 3,804 — 3,804 Current installments of obligation under capital leases — 575 256 28 — 859 Total current liabilities — 27,844 118,062 11,522 — 157,428 Long-term debt, net — 667,867 1,507,181 24,062 — 2,199,110 Deferred tax liability and other long-term tax liabilities — 62,785 253,232 (783 ) — 315,234 Long-term capital lease obligations — 12,953 1,059 — — 14,012 Retirement and postretirement plans — 25,917 157,070 — — 182,987 Other liabilities — 8,807 20,999 5,114 — 34,920 Total liabilities — 806,173 2,057,603 39,915 — 2,903,691 Noncontrolling interests — — — 24,447 — 24,447 Total stockholders (deficit) equity 1,447,970 1,447,970 1,149,572 169,820 (2,767,362 ) 1,447,970 Total liabilities, noncontrolling interest and stockholders' equity (deficit) $ 1,447,970 $ 2,254,143 $ 3,207,175 $ 234,182 $ (2,767,362 ) $ 4,376,108 Media General, Inc. Condensed Consolidated Statement of Comprehensive Income For the Three Months Ended March 31, 2016 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net operating revenue $ — $ 99,091 $ 235,157 $ 17,855 $ (8,640 ) $ 343,463 Operating costs: Operating expenses, excluding depreciation expense — 42,160 100,634 13,447 (5,098 ) 151,143 Selling, general and administrative expenses — 22,693 53,541 2,252 (165 ) 78,321 Amortization of program licenses rights — 4,480 7,574 513 (501 ) 12,066 Corporate and other expenses — — 10,350 2 — 10,352 Depreciation and amortization — 14,399 23,948 1,774 — 40,121 (Gain) loss related to property and equipment, net — (7 ) (833 ) 72 — (768 ) Merger-related expenses — — 65,882 — — 65,882 Restructuring expenses — — 3,982 — — 3,982 Operating income (loss) — 15,366 (29,921 ) (205 ) (2,876 ) (17,636 ) Other income (expense): Interest expense, net — (10,694 ) (17,586 ) (276 ) — (28,556 ) Intercompany income and (expenses) — (10,107 ) 10,451 (344 ) — — Equity in income (loss) from operations of consolidated subsidiaries (26,190 ) (15,958 ) — — 42,148 — Other, net — — 74 — — 74 Total other income (expense) (26,190 ) (36,759 ) (7,061 ) (620 ) 42,148 (28,482 ) Income (loss) before income taxes (26,190 ) (21,393 ) (36,982 ) (825 ) 39,272 (46,118 ) Income tax benefit (expense) — (4,797 ) 24,584 618 — 20,405 Net income (loss) $ (26,190 ) $ (26,190 ) $ (12,398 ) $ (207 ) $ 39,272 $ (25,713 ) Net income (loss) attributable to noncontrolling interest — — — 477 — 477 Net income (loss) attributable to Media General $ (26,190 ) $ (26,190 ) $ (12,398 ) $ (684 ) $ 39,272 $ (26,190 ) Other comprehensive income — — — — — — Total comprehensive income (loss) attributable to Media General $ (26,190 ) $ (26,190 ) $ (12,398 ) $ (684 ) $ 39,272 $ (26,190 ) Media General, Inc. Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended March 31, 2015 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Media General Consolidated Net operating revenue $ — $ 88,218 $ 199,730 $ 13,742 $ (4,956 ) $ 296,734 Operating costs: Operating expenses, excluding depreciation expense — 37,599 83,759 7,542 (3,024 ) 125,876 Selling, general and administrative expenses — 23,524 53,218 4,137 (409 ) 80,470 Amortization of program license rights — 4,178 7,101 479 — 11,758 Corporate and other expenses — 3,201 9,458 (8 ) — 12,651 Depreciation and amortization — 14,136 24,672 1,475 — 40,283 Gain related to property and equipment, net — (36 ) (192 ) — — (228 ) Merger-related expenses — 1,374 3,903 — — 5,277 Restructuring expenses — — — — — — Operating income (loss) — 4,242 17,811 117 (1,523 ) 20,647 Other income (expense) Interest expense (1 ) (10,650 ) (20,087 ) (285 ) — (31,023 ) Debt modification and extinguishment costs — — (613 ) — — (613 ) Intercompany income and (expenses) — (5,535 ) 5,767 (232 ) — — Equity in income (loss) from operations of consolidated subsidiaries (7,432 ) (434 ) — — 7,866 — Other, net — 82 708 2,500 — 3,290 Total other income (expense) (7,433 ) (16,537 ) (14,225 ) 1,983 7,866 (28,346 ) Income (loss) before income taxes (7,433 ) (12,295 ) 3,586 2,100 6,343 (7,699 ) Income tax benefit (expense) — 4,863 (2,274 ) 568 — 3,157 Net income (loss) $ (7,433 ) $ (7,432 ) $ 1,312 $ 2,668 $ 6,343 $ (4,542 ) Net income (loss) attributable to noncontrolling interests — — (178 ) 3,069 — 2,891 Net income (loss) attributable to Media General $ (7,433 ) $ (7,432 ) $ 1,490 $ (401 ) $ 6,343 $ (7,433 ) Other comprehensive income — — — — — — Total comprehensive income (loss) attributable to Media General $ (7,433 ) $ (7,432 ) $ 1,490 $ (401 ) $ 6,343 $ (7,433 ) Media General, Inc. Condensed Consolidating Statement of Cash Flows Year to date through March 31, 2016 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Media General Consolidated Cash flows from operating activities: Net cash used by operating activities $ — $ (4,065 ) $ (596 ) $ (138 ) $ — $ (4,799 ) Cash flows from investing activities: Capital expenditures — (1,716 ) (3,649 ) (1,398 ) — (6,763 ) Proceeds from the sale of PP&E — 29 3,947 — — 3,976 Receipt of dividend — 19,502 — — (19,502 ) — Advances on intercompany borrowings — (2,644 ) — — 2,644 — Payments from intercompany borrowings — — 12,060 — (12,060 ) — Other, net — — (10 ) — — (10 ) Net cash provided (used) by investing activities — 15,171 12,348 (1,398 ) (28,918 ) (2,797 ) Cash flows from financing activities: Borrowings under Media General Revolving Credit Facility — — 30,000 — — 30,000 Repayments under Media General Revolving Credit Facility — — (30,000 ) — — (30,000 ) Repayment of borrowings under Shield Media Credit Agreement — — — (800 ) — (800 ) Repayment of other borrowings — — — (290 ) — (290 ) Payment of dividend — — (19,502 ) — 19,502 — Proceeds from intercompany borrowings — — — 2,644 (2,644 ) — Payments on intercompany borrowing — (12,060 ) — — 12,060 — Exercise of stock options — — 1,408 — — 1,408 Other, net — (149 ) (71 ) — — (220 ) Net cash provided (used) by financing activities — (12,209 ) (18,165 ) 1,554 28,918 98 Net (decrease) increase in cash and cash equivalents — (1,103 ) (6,413 ) 18 — (7,498 ) Cash and cash equivalents at beginning of period — 1,103 35,925 4,063 — 41,091 Cash and cash equivalents at end of period $ — $ — $ 29,512 $ 4,081 $ — $ 33,593 Media General, Inc. Condensed Consolidating Statement of Cash Flows Year to date through March 31, 2015 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Media General Consolidated Cash flows from operating activities: Net cash provided (used) by operating activities $ (1,402 ) $ 12,021 $ 42,361 $ 3,439 $ — $ 56,419 Cash flows from investing activities: Capital expenditures — (2,314 ) (4,288 ) (607 ) — (7,209 ) Proceeds from sale the of PP&E — 36 226 — — 262 Proceeds from spectrum sale — — 620 — — 620 Receipt of dividend — 19,502 — — (19,502 ) — Payments from intercompany borrowings 2,025 — 12,073 — (14,098 ) — Payment of capital contributions (3,011 ) — — — 3,011 — Other, net — — — (5 ) — (5 ) Net cash provided (used) by investing activities (986 ) 17,224 8,631 (612 ) (30,589 ) (6,332 ) Cash flows from financing activities: Repayment of borrowings under Media General Credit Agreement — — (35,000 ) — — (35,000 ) Repayment of borrowings under Shield Media Credit Agreement — — — (600 ) — (600 ) Repayment of other borrowings — — — (290 ) — (290 ) Payment of dividend — — (19,502 ) — 19,502 — Payments on intercompany borrowing — (14,098 ) — — 14,098 — Receipt of capital contributions — 3,011 — — (3,011 ) — Exercise of stock options — — 958 — — 958 Other, net — — (777 ) 13 — (764 ) Net cash (used) provided by financing activities — (11,087 ) (54,321 ) (877 ) 30,589 (35,696 ) Net (decrease) increase in cash and cash equivalents (2,388 ) 18,158 (3,329 ) 1,950 — 14,391 Cash and cash equivalents at beginning of period 2,388 9,658 27,371 4,503 — 43,920 Cash and cash equivalents at end of period $ — $ 27,816 $ 24,042 $ 6,453 $ — $ 58,311

Segment Information (Tables)

Segment Information (Tables)	3 Months Ended
	Mar. 31, 2016
Segment Reporting [Abstract]
Reconciliation of Revenue from Segments to Consolidated	Three Months Ended March 31, (in thousands) 2016 2015 Revenues Broadcast $ 305,593 $ 266,484 Digital 37,870 30,250 Revenues $ 343,463 $ 296,734
Reconciliation of Operating Profit (Loss) from Segments to Consolidated	Three Months Ended March 31, (in thousands) 2016 2015 Operating income Broadcast $ 103,618 $ 80,821 Digital (1,685 ) (2,191 ) Segment operating income 101,933 78,630 Corporate and other expenses (10,352 ) (12,651 ) Depreciation and amortization (40,121 ) (40,283 ) Gain related to property and equipment, net 768 228 Merger-related expenses (65,882 ) (5,277 ) Restructuring expenses (3,982 ) — Operating income (loss) $ (17,636 ) $ 20,647

Variable Interest Entities (Tab

Variable Interest Entities (Tables)	3 Months Ended
	Mar. 31, 2016
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Variable Interest Entities	The carrying amounts and classification of the assets and liabilities of the consolidated VIE entities described above, which have been included in the consolidated balance sheets as of March 31, 2016 , and December 31, 2015 , were as follows: (In thousands) March 31, December 31, Assets Current assets Cash and cash equivalents $ 3,554 $ 3,693 Trade accounts receivable (less allowance for doubtful accounts 2016 - $89; 2015 - $94) 7,985 9,798 Prepaid expenses and other current assets 715 796 Total current assets 12,254 14,287 Property and equipment, net 1,937 1,904 Other assets, net 2,874 3,094 Definite lived intangible assets, net 31,479 32,244 Broadcast licenses 71,300 71,300 Goodwill 21,859 21,859 Total assets $ 141,703 $ 144,688 Liabilities Current liabilities Trade accounts payable $ 13 $ 16 Other accrued expenses and other current liabilities 1,974 2,221 Current installments of long-term debt 3,514 3,804 Total current liabilities 5,501 6,041 Long-term debt, net 23,285 24,062 Other liabilities 6,981 8,310 Total liabilities $ 35,767 $ 38,413

Debt and Other Financial Inst18

Debt and Other Financial Instruments (Tables)	3 Months Ended
	Mar. 31, 2016
Debt Disclosure [Abstract]
Schedule of Debt	Long-term debt at March 31, 2016 , and December 31, 2015 , was as follows: (In thousands) 2016 2015 Media General Credit Agreement $ 1,541,000 $ 1,541,000 2022 Notes 400,000 400,000 2021 Notes 275,000 275,000 Shield Media Credit Agreement 26,400 27,200 Other borrowings 659 950 Total debt 2,243,059 2,244,150 Less: net unamortized discount (8,531 ) (8,992 ) Less: scheduled current maturities (3,514 ) (3,804 ) Less: unamortized debt issuance fees (30,671 ) (32,244 ) Long-term debt excluding current maturities $ 2,200,343 $ 2,199,110
Schedule of Carrying Values and Estimated Fair Values of Debt Instruments	The following table includes information about the carrying values and estimated fair values of the Company’s financial instruments at March 31, 2016 , and December 31, 2015 : March 31, 2016 December 31, 2015 Carrying Fair Carrying Fair (In thousands) Amount Value Amount Value Assets: Investments Trading securities $ 274 $ 274 $ 257 $ 257 Liabilities: Long-term debt: Media General Credit Agreement 1,508,934 1,545,471 1,507,182 1,529,229 2022 Notes 392,799 406,898 392,527 404,344 2021 Notes 275,324 302,502 275,340 288,228 Shield Media Credit Agreement 26,140 26,140 26,915 27,200 Other borrowings 659 659 950 950

Earnings Per Share (Tables)

Earnings Per Share (Tables)	3 Months Ended
	Mar. 31, 2016
Earnings Per Share [Abstract]
Schedule of Earnings Per Share, Basic and Diluted	The following table sets forth the computation of basic and diluted income per share for the three months ended March 31, 2016 , and 2015 : Three Months Ended March 31, 2016 Three Months Ended March 31, 2015 (In thousands, except Income Shares Per Share Income Shares Per Share per share amounts) (Numerator) (Denominator) Amount (Numerator) (Denominator) Amount Net income (loss) attributable to Media General $ (26,190 ) $ (7,433 ) Undistributed earnings attributable to participating securities — — Basic EPS Income (loss) attributable to common stockholders $ (26,190 ) 128,595 $ (0.20 ) $ (7,433 ) 129,384 $ (0.06 ) Effect of dilutive securities: Stock options and warrants — — Diluted EPS Income (loss) attributable to common stockholders $ (26,190 ) 128,595 $ (0.20 ) $ (7,433 ) 129,384 $ (0.06 )

Retirement and Postretirement20

Retirement and Postretirement Plans (Tables)	3 Months Ended
	Mar. 31, 2016
Compensation and Retirement Disclosure [Abstract]
Schedule of Net Benefit Costs	The following tables provide the components of net periodic benefit cost (income) for the Company’s benefit plans for the first quarters of 2016 and 2015 : Three Months Ended Pension Benefits Other Benefits (In thousands ) March 31, March 31, March 31, March 31, Service cost $ — $ — $ — $ 10 Interest cost 4,650 7,400 200 110 Expected return on plan assets (6,950 ) (9,981 ) — — Amortization of net loss — 258 (25 ) — Net periodic benefit (income) cost $ (2,300 ) $ (2,323 ) $ 175 $ 120

Stockholders' Equity (Tables)

Stockholders' Equity (Tables)	3 Months Ended
	Mar. 31, 2016
Equity [Abstract]
Schedule of Stockholders Equity	The following table shows the components of the Company’s stockholders’ equity as of and for the three months ended March 31, 2016 : Accumulated Other Total Common Stock Comprehensive Retained Stockholders' (In thousands) Voting Non-Voting Loss Earnings Equity Balance at December 31, 2015 $ 1,305,155 $ — $ (31,224 ) $ 174,039 $ 1,447,970 Net loss attributable to Media General — — (26,190 ) (26,190 ) Exercise of stock options 1,408 — — — 1,408 Stock-based compensation 2,078 — — — 2,078 Revaluation of redeemable noncontrolling interest (12,094 ) — — (447 ) (12,541 ) Other 332 — — — 332 Balance at March 31, 2016 $ 1,296,879 $ — $ (31,224 ) $ 147,402 $ 1,413,057 The following table shows the components of the Company’s stockholders’ equity as of and for the three months ended March 31, 2015 : Accumulated Other Total Common Stock Comprehensive Retained Stockholders' (In thousands) Voting Non-Voting Income Earnings Equity Balance at December 31, 2014 $ 1,322,284 $ — $ (36,445 ) $ 214,582 $ 1,500,421 Net income attributable to Media General — — — (7,433 ) (7,433 ) Exercise of stock options 1,034 — — — 1,034 Stock-based compensation 3,010 — — — 3,010 Revaluation of redeemable noncontrolling interest — — — (586 ) (586 ) Other (633 ) — — — (633 ) Balance at March 31, 2015 $ 1,325,695 $ — $ (36,445 ) $ 206,563 $ 1,495,813

Other (Tables)

Other (Tables)	3 Months Ended
	Mar. 31, 2016
Other Income and Expenses [Abstract]
Schedule of Restructuring Reserve and Restructuring Costs	The following tables present the activity associated with the March 31, 2016 balance of the restructuring liability and the nature and amount of exit charges incurred in the three months ended March 31, 2016: As of March 31, 2016 (In thousands ) Digital WAGT Total Accrued restructuring as of December 31, 2015 $ 1,312 $ — $ 1,312 Severance charges 1,826 538 2,364 Contract termination charges 630 172 802 Cash severance payments (1,594 ) — (1,594 ) Accrued restructuring as of March 31, 2016 $ 2,174 $ 710 $ 2,884 Three months ended March 31, 2016 (In thousands ) Digital WAGT Total Severance charges $ 1,826 $ 538 $ 2,364 Contract termination charges 630 172 802 Asset impairment — 282 282 Legal fees — 477 477 Other — 57 57 Total restructuring expense $ 2,456 $ 1,526 $ 3,982

Guarantor Financial Informati23

Guarantor Financial Information (Tables)	3 Months Ended
	Mar. 31, 2016
Condensed Financial Statements Guarantor Financials [Abstract]
Condensed Consolidating Balance Sheet	Media General, Inc. Condensed Consolidating Balance Sheet March 31, 2016 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ — $ 29,512 $ 4,081 $ — $ 33,593 Trade accounts receivable, net — 77,599 183,913 30,377 — 291,889 Prepaid expenses and other current assets — 2,743 13,144 1,500 — 17,387 Total current assets — 80,342 226,569 35,958 — 342,869 Property and equipment, net — 153,261 301,380 2,777 — 457,418 Other assets, net — 727 29,038 3,145 — 32,910 Definite lived intangible assets, net — 359,722 445,675 44,442 — 849,839 Broadcast licenses — — 1,025,800 71,300 — 1,097,100 Goodwill — 527,077 924,708 92,839 — 1,544,624 Advances to consolidated subsidiaries — (237,643 ) 254,351 (16,708 ) — — Investment in consolidated subsidiaries 1,413,057 1,296,899 — — (2,709,956 ) — Total assets $ 1,413,057 $ 2,180,385 $ 3,207,521 $ 233,753 $ (2,709,956 ) $ 4,324,760 LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT) Current liabilities: Trade accounts payable $ — $ 399 $ 16,459 $ 2,996 $ — $ 19,854 Accrued salaries and wages — 3,850 16,709 570 — 21,129 Accrued expenses and other current liabilities — 22,291 80,050 5,769 — 108,110 Current installments of long-term debt — — — 3,514 — 3,514 Current installments of obligation under capital leases — 575 246 20 — 841 Total current liabilities — 27,115 113,464 12,869 — 153,448 Long-term debt, net — 668,122 1,508,935 23,286 — 2,200,343 Deferred tax liability and other long-term tax liabilities — 58,015 237,358 (1,400 ) — 293,973 Long-term capital lease obligations — 12,811 999 — — 13,810 Retirement and postretirement plans — — 179,377 — — 179,377 Other liabilities — 1,265 27,056 4,966 — 33,287 Total liabilities — 767,328 2,067,189 39,721 — 2,874,238 Noncontrolling interests — — — 37,465 — 37,465 Total stockholders (deficit) equity 1,413,057 1,413,057 1,140,332 156,567 (2,709,956 ) 1,413,057 Total liabilities, noncontrolling interest and stockholders' equity (deficit) $ 1,413,057 $ 2,180,385 $ 3,207,521 $ 233,753 $ (2,709,956 ) $ 4,324,760 Media General, Inc. Condensed Consolidating Balance Sheet December 31, 2015 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated ASSETS Current assets: Cash and cash equivalents $ — $ 1,103 $ 35,925 $ 4,063 $ — $ 41,091 Trade accounts receivable, net — 75,866 192,306 30,302 — 298,474 Prepaid expenses and other current assets — 3,264 10,441 1,378 — 15,083 Total current assets — 80,233 238,672 35,743 — 354,648 Property and equipment, net — 158,627 309,160 2,750 — 470,537 Other assets, net — 7,199 27,523 3,348 — 38,070 Definite lived intangible assets, net — 368,011 458,261 44,857 — 871,129 Broadcast licenses — — 1,025,800 71,300 — 1,097,100 Goodwill — 527,077 924,708 92,839 — 1,544,624 Advances to consolidated subsidiaries — (206,396 ) 223,051 (16,655 ) — Investment in consolidated subsidiaries 1,447,970 1,319,392 — — (2,767,362 ) — Total assets $ 1,447,970 $ 2,254,143 $ 3,207,175 $ 234,182 $ (2,767,362 ) $ 4,376,108 LIABILITIES AND STOCKHOLDER'S EQUITY (DEFICIT) Current liabilities: Trade accounts payable $ — $ 2,010 $ 30,689 $ 3,101 $ — $ 35,800 Accrued salaries and wages — 2,022 19,016 427 — 21,465 Accrued expenses and other current liabilities — 23,237 68,101 4,162 — 95,500 Current installments of long-term debt — — — 3,804 — 3,804 Current installments of obligation under capital leases — 575 256 28 — 859 Total current liabilities — 27,844 118,062 11,522 — 157,428 Long-term debt, net — 667,867 1,507,181 24,062 — 2,199,110 Deferred tax liability and other long-term tax liabilities — 62,785 253,232 (783 ) — 315,234 Long-term capital lease obligations — 12,953 1,059 — — 14,012 Retirement and postretirement plans — 25,917 157,070 — — 182,987 Other liabilities — 8,807 20,999 5,114 — 34,920 Total liabilities — 806,173 2,057,603 39,915 — 2,903,691 Noncontrolling interests — — — 24,447 — 24,447 Total stockholders (deficit) equity 1,447,970 1,447,970 1,149,572 169,820 (2,767,362 ) 1,447,970 Total liabilities, noncontrolling interest and stockholders' equity (deficit) $ 1,447,970 $ 2,254,143 $ 3,207,175 $ 234,182 $ (2,767,362 ) $ 4,376,108
Condensed Consolidating Statement of Comprehensive Income	Media General, Inc. Condensed Consolidated Statement of Comprehensive Income For the Three Months Ended March 31, 2016 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Consolidated Net operating revenue $ — $ 99,091 $ 235,157 $ 17,855 $ (8,640 ) $ 343,463 Operating costs: Operating expenses, excluding depreciation expense — 42,160 100,634 13,447 (5,098 ) 151,143 Selling, general and administrative expenses — 22,693 53,541 2,252 (165 ) 78,321 Amortization of program licenses rights — 4,480 7,574 513 (501 ) 12,066 Corporate and other expenses — — 10,350 2 — 10,352 Depreciation and amortization — 14,399 23,948 1,774 — 40,121 (Gain) loss related to property and equipment, net — (7 ) (833 ) 72 — (768 ) Merger-related expenses — — 65,882 — — 65,882 Restructuring expenses — — 3,982 — — 3,982 Operating income (loss) — 15,366 (29,921 ) (205 ) (2,876 ) (17,636 ) Other income (expense): Interest expense, net — (10,694 ) (17,586 ) (276 ) — (28,556 ) Intercompany income and (expenses) — (10,107 ) 10,451 (344 ) — — Equity in income (loss) from operations of consolidated subsidiaries (26,190 ) (15,958 ) — — 42,148 — Other, net — — 74 — — 74 Total other income (expense) (26,190 ) (36,759 ) (7,061 ) (620 ) 42,148 (28,482 ) Income (loss) before income taxes (26,190 ) (21,393 ) (36,982 ) (825 ) 39,272 (46,118 ) Income tax benefit (expense) — (4,797 ) 24,584 618 — 20,405 Net income (loss) $ (26,190 ) $ (26,190 ) $ (12,398 ) $ (207 ) $ 39,272 $ (25,713 ) Net income (loss) attributable to noncontrolling interest — — — 477 — 477 Net income (loss) attributable to Media General $ (26,190 ) $ (26,190 ) $ (12,398 ) $ (684 ) $ 39,272 $ (26,190 ) Other comprehensive income — — — — — — Total comprehensive income (loss) attributable to Media General $ (26,190 ) $ (26,190 ) $ (12,398 ) $ (684 ) $ 39,272 $ (26,190 ) Media General, Inc. Condensed Consolidating Statement of Comprehensive Income For the Three Months Ended March 31, 2015 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Media General Consolidated Net operating revenue $ — $ 88,218 $ 199,730 $ 13,742 $ (4,956 ) $ 296,734 Operating costs: Operating expenses, excluding depreciation expense — 37,599 83,759 7,542 (3,024 ) 125,876 Selling, general and administrative expenses — 23,524 53,218 4,137 (409 ) 80,470 Amortization of program license rights — 4,178 7,101 479 — 11,758 Corporate and other expenses — 3,201 9,458 (8 ) — 12,651 Depreciation and amortization — 14,136 24,672 1,475 — 40,283 Gain related to property and equipment, net — (36 ) (192 ) — — (228 ) Merger-related expenses — 1,374 3,903 — — 5,277 Restructuring expenses — — — — — — Operating income (loss) — 4,242 17,811 117 (1,523 ) 20,647 Other income (expense) Interest expense (1 ) (10,650 ) (20,087 ) (285 ) — (31,023 ) Debt modification and extinguishment costs — — (613 ) — — (613 ) Intercompany income and (expenses) — (5,535 ) 5,767 (232 ) — — Equity in income (loss) from operations of consolidated subsidiaries (7,432 ) (434 ) — — 7,866 — Other, net — 82 708 2,500 — 3,290 Total other income (expense) (7,433 ) (16,537 ) (14,225 ) 1,983 7,866 (28,346 ) Income (loss) before income taxes (7,433 ) (12,295 ) 3,586 2,100 6,343 (7,699 ) Income tax benefit (expense) — 4,863 (2,274 ) 568 — 3,157 Net income (loss) $ (7,433 ) $ (7,432 ) $ 1,312 $ 2,668 $ 6,343 $ (4,542 ) Net income (loss) attributable to noncontrolling interests — — (178 ) 3,069 — 2,891 Net income (loss) attributable to Media General $ (7,433 ) $ (7,432 ) $ 1,490 $ (401 ) $ 6,343 $ (7,433 ) Other comprehensive income — — — — — — Total comprehensive income (loss) attributable to Media General $ (7,433 ) $ (7,432 ) $ 1,490 $ (401 ) $ 6,343 $ (7,433 )
Condensed Consolidating Statement of Cash Flows	Media General, Inc. Condensed Consolidating Statement of Cash Flows Year to date through March 31, 2016 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Media General Consolidated Cash flows from operating activities: Net cash used by operating activities $ — $ (4,065 ) $ (596 ) $ (138 ) $ — $ (4,799 ) Cash flows from investing activities: Capital expenditures — (1,716 ) (3,649 ) (1,398 ) — (6,763 ) Proceeds from the sale of PP&E — 29 3,947 — — 3,976 Receipt of dividend — 19,502 — — (19,502 ) — Advances on intercompany borrowings — (2,644 ) — — 2,644 — Payments from intercompany borrowings — — 12,060 — (12,060 ) — Other, net — — (10 ) — — (10 ) Net cash provided (used) by investing activities — 15,171 12,348 (1,398 ) (28,918 ) (2,797 ) Cash flows from financing activities: Borrowings under Media General Revolving Credit Facility — — 30,000 — — 30,000 Repayments under Media General Revolving Credit Facility — — (30,000 ) — — (30,000 ) Repayment of borrowings under Shield Media Credit Agreement — — — (800 ) — (800 ) Repayment of other borrowings — — — (290 ) — (290 ) Payment of dividend — — (19,502 ) — 19,502 — Proceeds from intercompany borrowings — — — 2,644 (2,644 ) — Payments on intercompany borrowing — (12,060 ) — — 12,060 — Exercise of stock options — — 1,408 — — 1,408 Other, net — (149 ) (71 ) — — (220 ) Net cash provided (used) by financing activities — (12,209 ) (18,165 ) 1,554 28,918 98 Net (decrease) increase in cash and cash equivalents — (1,103 ) (6,413 ) 18 — (7,498 ) Cash and cash equivalents at beginning of period — 1,103 35,925 4,063 — 41,091 Cash and cash equivalents at end of period $ — $ — $ 29,512 $ 4,081 $ — $ 33,593 Media General, Inc. Condensed Consolidating Statement of Cash Flows Year to date through March 31, 2015 (in thousands) Media General LIN Television Corporation Guarantor Subsidiaries Non-Guarantor Subsidiaries Eliminations Media General Consolidated Cash flows from operating activities: Net cash provided (used) by operating activities $ (1,402 ) $ 12,021 $ 42,361 $ 3,439 $ — $ 56,419 Cash flows from investing activities: Capital expenditures — (2,314 ) (4,288 ) (607 ) — (7,209 ) Proceeds from sale the of PP&E — 36 226 — — 262 Proceeds from spectrum sale — — 620 — — 620 Receipt of dividend — 19,502 — — (19,502 ) — Payments from intercompany borrowings 2,025 — 12,073 — (14,098 ) — Payment of capital contributions (3,011 ) — — — 3,011 — Other, net — — — (5 ) — (5 ) Net cash provided (used) by investing activities (986 ) 17,224 8,631 (612 ) (30,589 ) (6,332 ) Cash flows from financing activities: Repayment of borrowings under Media General Credit Agreement — — (35,000 ) — — (35,000 ) Repayment of borrowings under Shield Media Credit Agreement — — — (600 ) — (600 ) Repayment of other borrowings — — — (290 ) — (290 ) Payment of dividend — — (19,502 ) — 19,502 — Payments on intercompany borrowing — (14,098 ) — — 14,098 — Receipt of capital contributions — 3,011 — — (3,011 ) — Exercise of stock options — — 958 — — 958 Other, net — — (777 ) 13 — (764 ) Net cash (used) provided by financing activities — (11,087 ) (54,321 ) (877 ) 30,589 (35,696 ) Net (decrease) increase in cash and cash equivalents (2,388 ) 18,158 (3,329 ) 1,950 — 14,391 Cash and cash equivalents at beginning of period 2,388 9,658 27,371 4,503 — 43,920 Cash and cash equivalents at end of period $ — $ 27,816 $ 24,042 $ 6,453 $ — $ 58,311

Basis of Presentation Basis of

Basis of Presentation Basis of Presentation (Details) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Jan. 31, 2016USD ($)$ / shares	Mar. 31, 2016USD ($)stationmarketsegment	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Nov. 05, 2014
Business Acquisition [Line Items]
Acquisition related costs, canceled acquisition, breakup fee		$ 60,000	$ 0
Merger-related expenses		$ 65,882	$ 5,277
Number of reportable segments | segment		2
Number of stations | station		71
Number of markets | market		48
Debt issuance costs		$ 30,671		$ 32,244
JSA and SSA entities [Member]
Business Acquisition [Line Items]
Number of stations | station		2
Meredith Corporation [Member]
Business Acquisition [Line Items]
Acquisition related costs, canceled acquisition, breakup fee	$ 60,000
Senior Notes 2022 [Member]
Business Acquisition [Line Items]
Interest rate (percentage)		5.875%			5.875%
Senior Notes 2022 [Member] | LIN Merger [Member]
Business Acquisition [Line Items]
Interest rate (percentage)					8.375%
Senior Notes 2021 [Member] | LIN Merger [Member]
Business Acquisition [Line Items]
Interest rate (percentage)		6.375%
Accounting Standards Update 2015-03 [Member] | Other Assets [Member]
Business Acquisition [Line Items]
Debt issuance costs				(32,200)
Accounting Standards Update 2015-03 [Member] | Other Assets [Member] | JSA and SSA entities [Member]
Business Acquisition [Line Items]
Debt issuance costs				(285)
Accounting Standards Update 2015-03 [Member] | Long-term Debt [Member]
Business Acquisition [Line Items]
Debt issuance costs		$ 30,700		32,200
Accounting Standards Update 2015-03 [Member] | Long-term Debt [Member] | JSA and SSA entities [Member]
Business Acquisition [Line Items]
Debt issuance costs				$ 285
Nexstar Broadcasting Group, Inc. [Member] | Media General [Member]
Business Acquisition [Line Items]
Unsolicited tender offer, share price (in dollars per share) | $ / shares	$ 10.55
Unsolicited tender offer, acquirer shares per share (in shares)	0.1249
Ownership percentage maintained by acquiree (percentage)	34.00%
Ownership percentage acquired (percentage)	66.00%

Segment Information - Narrative

Segment Information - Narrative (Details)	3 Months Ended
	Mar. 31, 2016stationmarketsegment
Segment Reporting Information [Line Items]
Number of reportable segments | segment	2
Number of stations | station	71
Number of markets | market	48
Broadcast [Member]
Segment Reporting Information [Line Items]
Number of stations | station	71
Number of markets | market	48

Segment Information - Operating

Segment Information - Operating Segments, Revenue (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Revenues
Revenues	$ 343,463	$ 296,734
Broadcast [Member]
Revenues
Revenues	305,593	266,484
Digital [Member]
Revenues
Revenues	$ 37,870	$ 30,250

Segment Information - Operati27

Segment Information - Operating Segments, Profit (Loss) (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Operating income
Operating income (loss)	$ (17,636)	$ 20,647
Corporate and other expenses	(10,352)	(12,651)
Depreciation and amortization	(40,121)	(40,283)
Merger-related expenses	(65,882)	(5,277)
Restructuring expenses	(3,982)	0
Operating Segments [Member]
Operating income
Operating income (loss)	101,933	78,630
Operating Segments [Member] | Broadcast [Member]
Operating income
Operating income (loss)	103,618	80,821
Operating Segments [Member] | Digital [Member]
Operating income
Operating income (loss)	(1,685)	(2,191)
Corporate [Member]
Operating income
Corporate and other expenses	(10,352)	(12,651)
Segment Reconciling Items [Member]
Operating income
Depreciation and amortization	(40,121)	(40,283)
Gain related to property and equipment, net	768	228
Merger-related expenses	(65,882)	(5,277)
Restructuring expenses	$ (3,982)	$ 0

Variable Interest Entities (Det

Variable Interest Entities (Details)		1 Months Ended	3 Months Ended
		Mar. 31, 2014	Mar. 31, 2016USD ($)station	Dec. 31, 2015USD ($)	Mar. 31, 2015USD ($)	Dec. 31, 2014USD ($)
Current assets:
Cash and cash equivalents			$ 33,593,000	$ 41,091,000	$ 58,311,000	$ 43,920,000
Trade accounts receivable (less allowance for doubtful accounts 2016 - $89; 2015 - $94)			291,889,000	298,474,000
Prepaid expenses and other current assets			17,387,000	15,083,000
Total current assets			342,869,000	354,648,000
Property and equipment, net			457,418,000	470,537,000
Other assets, net			32,910,000	38,070,000
Definite lived intangible assets, net			849,839,000	871,129,000
Broadcast licenses			1,097,100,000	1,097,100,000
Goodwill			1,544,624,000	1,544,624,000
Total assets	[1]		4,324,760,000	4,376,108,000
Current liabilities:
Trade accounts payable			19,854,000	35,800,000
Accrued expenses and other current liabilities			108,110,000	95,500,000
Current installments of long-term debt			3,514,000	3,804,000
Total current liabilities			153,448,000	157,428,000
Long-term debt excluding current maturities			2,200,343,000	2,199,110,000
Other liabilities			33,287,000	34,920,000
Total liabilities	[2]		2,874,238,000	2,903,691,000
Trade accounts receivable, allowance for doubtful accounts (in Dollars)			$ 4,448,000	4,634,000
JSA and SSA entities [Member]
Condensed Balance Sheet Statements, Captions [Line Items]
Number of stations | station			8
Current assets:
Cash and cash equivalents			$ 3,554,000	3,693,000
Trade accounts receivable (less allowance for doubtful accounts 2016 - $89; 2015 - $94)			7,985,000	9,798,000
Prepaid expenses and other current assets			715,000	796,000
Total current assets			12,254,000	14,287,000
Property and equipment, net			1,937,000	1,904,000
Other assets, net			2,874,000	3,094,000
Definite lived intangible assets, net			31,479,000	32,244,000
Broadcast licenses			71,300,000	71,300,000
Goodwill			21,859,000	21,859,000
Total assets			141,703,000	144,688,000
Current liabilities:
Trade accounts payable			13,000	16,000
Accrued expenses and other current liabilities			1,974,000	2,221,000
Current installments of long-term debt			3,514,000	3,804,000
Total current liabilities			5,501,000	6,041,000
Long-term debt excluding current maturities			23,285,000	24,062,000
Other liabilities			6,981,000	8,310,000
Total liabilities			35,767,000	38,413,000
Trade accounts receivable, allowance for doubtful accounts (in Dollars)			89,000	$ 94,000
Threshold on media ownership rules (more than) (percentage)		15.00%
Company Owned Option To Acquire Assets Or Equity [Member]
Current liabilities:
Carrying amount of ineligible options			$ 0
[1]	Consolidated assets as of March 31, 2016 and December 31, 2015, include total assets of variable interest entities (VIEs) of $142 million and $145 million, respectively, which can only be used to settle the obligations of the VIEs. See Note 1 and Note 3.
[2]	Consolidated liabilities as of March 31, 2016 and December 31, 2015, include total liabilities of VIEs of $36 million and $38 million, respectively, for which the creditors of the VIEs have no recourse to the Company, except for certain of the debt, which the Company guarantees. See Note 1 and Note 3.

Debt and Other Financial Inst29

Debt and Other Financial Instruments - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Debt Instrument [Line Items]
Long-term debt	$ 2,243,059	$ 2,244,150
Less: net unamortized discount	(8,531)	(8,992)
Less: scheduled current maturities	(3,514)	(3,804)
Less: unamortized debt issuance fees	(30,671)	(32,244)
Long-term debt excluding current maturities	2,200,343	2,199,110
Media General Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt	1,541,000	1,541,000
The 2022 Notes [Member]
Debt Instrument [Line Items]
Long-term debt	400,000	400,000
The 2021 Notes [Member]
Debt Instrument [Line Items]
Long-term debt	275,000	275,000
Shield Media Credit Agreement [Member]
Debt Instrument [Line Items]
Long-term debt	26,400	27,200
Other Borrowings [Member]
Debt Instrument [Line Items]
Long-term debt	$ 659	$ 950

Debt and Other Financial Inst30

Debt and Other Financial Instruments - Narrative (Details)	Jul. 31, 2013	Jul. 31, 2013	Mar. 31, 2016USD ($)station	Mar. 31, 2015USD ($)	Dec. 31, 2015USD ($)	Nov. 05, 2014USD ($)
Debt Instrument [Line Items]
Debt modification and extinguishment costs			$ 0	$ 613,000
Number of stations | station			71
JSA and SSA entities [Member]
Debt Instrument [Line Items]
Number of stations | station			2
Media General Credit Agreement [Member]
Debt Instrument [Line Items]
Line of credit, current			$ 1,500,000,000
Line of credit facility, maximum borrowing capacity			$ 150,000,000
Line of credit facility, unused capacity, percentage			0.50%
Line of credit facility, remaining borrowing capacity			$ 146,000,000
Media General Credit Agreement [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (percentage)			2.50%
Letter of Credit [Member] | Media General Credit Agreement [Member]
Debt Instrument [Line Items]
Line of credit facility, remaining borrowing capacity			$ 4,000,000
Term Loan [Member]
Debt Instrument [Line Items]
Repayments of long-term debt			0	35,000,000
Debt modification and extinguishment costs				600,000
Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Debt instrument, interest rate, stated percentage, minimum (percentage)		1.00%
Basis spread on variable rate (percentage)		3.00%
Shield Media Term Loan [Member] | London Interbank Offered Rate (LIBOR) [Member]
Debt Instrument [Line Items]
Basis spread on variable rate (percentage)	3.00%
Shield Media Term Loan [Member] | Revolving Credit Facility [Member]
Debt Instrument [Line Items]
Repayments of long-term debt			$ 800,000	$ 600,000
Senior Notes 2022 [Member]
Debt Instrument [Line Items]
Principal amount						$ 400,000,000
Interest rate (percentage)			5.875%			5.875%
Senior Notes 2022 [Member] | LIN Merger [Member]
Debt Instrument [Line Items]
Principal amount						$ 200,000,000
Interest rate (percentage)						8.375%
Senior Notes 2021 [Member] | LIN Merger [Member]
Debt Instrument [Line Items]
Repayments of long-term debt			$ 0		$ 15,000,000
Principal amount			$ 275,000,000
Interest rate (percentage)			6.375%
Payment of debt extinguishment costs					$ 800,000

Debt and Other Financial Inst31

Debt and Other Financial Instruments - Fair value of financial instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2016	Dec. 31, 2015
Investments
Trading securities	$ 274	$ 257
Long-term debt:
Other borrowings	659	950
Media General Credit Agreement [Member]
Long-term debt:
Long-term debt, carrying amount	1,508,934	1,507,182
Long-term debt, fair value	1,545,471	1,529,229
Senior Notes 2022 [Member]
Long-term debt:
Long-term debt, carrying amount	392,799	392,527
Long-term debt, fair value	406,898	404,344
Senior Notes 2021 [Member]
Long-term debt:
Long-term debt, carrying amount	275,324	275,340
Long-term debt, fair value	302,502	288,228
Shield Media Credit Agreement [Member]
Long-term debt:
Long-term debt, carrying amount	26,140	26,915
Long-term debt, fair value	$ 26,140	$ 27,200

Taxes on Income (Details)

Taxes on Income (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Income Tax Disclosure [Abstract]
Effective tax rate (percentage)	44.20%	41.00%
Current income tax expense	$ 0.9	$ 0.2

Earnings Per Share - Basic and

Earnings Per Share - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Net income attributable to Media General	$ (26,190)	$ (7,433)
Undistributed earnings attributable to participating securities	0	0
Basic EPS
Income (loss) attributable to common stockholders	$ (26,190)	$ (7,433)
Income (loss) attributable to common stockholders (in shares)	128,595	129,384
Income (loss) attributable to common stockholders (in dollars per share)	$ (0.20)	$ (0.06)
Effect of dilutive securities:
Stock options and warrants (in shares)	0	0
Diluted EPS
Income (loss) attributable to common stockholders	$ (26,190)	$ (7,433)
Income (loss) attributable to common stockholders (in shares)	128,595	129,384
Income (loss) attributable to common stockholders (in dollars per share)	$ (0.20)	$ (0.06)

Earnings Per Share - Narrative

Earnings Per Share - Narrative (Details) - shares shares in Millions	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Earnings Per Share [Abstract]
Antidilutive securities excluded from computation of earnings per share (in shares)	1.2	1.1

Retirement and Postretirement35

Retirement and Postretirement Plans (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Pension Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	$ 0	$ 0
Interest cost	4,650	7,400
Expected return on plan assets	(6,950)	(9,981)
Amortization of net loss	0	258
Net periodic benefit (income) cost	(2,300)	(2,323)
Other Benefits [Member]
Defined Benefit Plans and Other Postretirement Benefit Plans Table Text Block [Line Items]
Service cost	0	10
Interest cost	200	110
Expected return on plan assets	0	0
Amortization of net loss	(25)	0
Net periodic benefit (income) cost	$ 175	$ 120

Stockholders' Equity (Details)

Stockholders' Equity (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	$ 1,447,970	$ 1,500,421
Net income attributable to Media General	(26,190)	(7,433)
Exercise of stock options	1,408	1,034
Stock-based compensation	2,078	3,010
Revaluation of redeemable noncontrolling interest	(12,541)	(586)
Other	332	(633)
Ending balance	1,413,057	1,495,813
Common Stock [Member] | Voting Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	1,305,155	1,322,284
Exercise of stock options	1,408	1,034
Stock-based compensation	2,078	3,010
Revaluation of redeemable noncontrolling interest	(12,094)
Other	332	(633)
Ending balance	1,296,879	1,325,695
Common Stock [Member] | Nonvoting Common Stock [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	0	0
Ending balance	0	0
AOCI Attributable to Parent [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	(31,224)	(36,445)
Ending balance	(31,224)	(36,445)
Retained Earnings [Member]
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Beginning balance	174,039	214,582
Net income attributable to Media General	(26,190)	(7,433)
Revaluation of redeemable noncontrolling interest	(447)	(586)
Ending balance	$ 147,402	$ 206,563

Other - Narrative (Details)

Other - Narrative (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended
	Apr. 30, 2016	Mar. 31, 2016	Mar. 31, 2015
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		$ 3,982	$ 0
Revaluation of redeemable noncontrolling interest		$ (12,541)	$ (586)
HYFN Inc [Member]
Restructuring Cost and Reserve [Line Items]
Noncontrolling interest, ownership percentage by parent (percentage)		50.10%
Revaluation of redeemable noncontrolling interest		$ 12,100
Subsequent Event [Member] | HYFN Inc [Member]
Restructuring Cost and Reserve [Line Items]
Purchase price	$ 35,000
One-time compensation expense related to the transaction	7,000
Total cash outflow	$ 42,000
Digital Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Expected savings related to restructuring		14,700
Restructuring expenses		2,456
WAGT Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		1,526
Severance Charges [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		2,364
Severance Charges [Member] | Digital Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		1,826
Severance Charges [Member] | WAGT Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		538
Contract Termination [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		802
Contract Termination [Member] | Digital Restructuring Plan [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		630
Contract Termination [Member] | WAGT Restructuring [Member]
Restructuring Cost and Reserve [Line Items]
Restructuring expenses		$ 172

Other - Restructuring Reserve R

Other - Restructuring Reserve Rollforward and Schedule of Reserve Expenses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Restructuring Reserve [Roll Forward]
Accrued restructuring as of December 31, 2015	$ 1,312
Restructuring expenses	3,982	$ 0
Accrued restructuring as of March 31, 2016	2,884
Digital Restructuring Plan [Member]
Restructuring Reserve [Roll Forward]
Accrued restructuring as of December 31, 2015	1,312
Restructuring expenses	2,456
Accrued restructuring as of March 31, 2016	2,174
WAGT Restructuring [Member]
Restructuring Reserve [Roll Forward]
Accrued restructuring as of December 31, 2015	0
Restructuring expenses	1,526
Accrued restructuring as of March 31, 2016	710
Severance Charges [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	2,364
Cash severance payments	(1,594)
Severance Charges [Member] | Digital Restructuring Plan [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	1,826
Cash severance payments	(1,594)
Severance Charges [Member] | WAGT Restructuring [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	538
Cash severance payments	0
Contract Termination [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	802
Contract Termination [Member] | Digital Restructuring Plan [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	630
Contract Termination [Member] | WAGT Restructuring [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	172
Asset Impairment [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	282
Asset Impairment [Member] | Digital Restructuring Plan [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	0
Asset Impairment [Member] | WAGT Restructuring [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	282
Legal Fees [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	477
Legal Fees [Member] | Digital Restructuring Plan [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	0
Legal Fees [Member] | WAGT Restructuring [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	477
Other Restructuring [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	57
Other Restructuring [Member] | Digital Restructuring Plan [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	0
Other Restructuring [Member] | WAGT Restructuring [Member]
Restructuring Reserve [Roll Forward]
Restructuring expenses	$ 57

Guarantor Financial Informati39

Guarantor Financial Information - Narrative (Details)	12 Months Ended
	Dec. 31, 2015
LIN Television Corporation [Member]
Interim Period, Costs Not Allocable [Line Items]
Ownership interest (percentage)	100.00%

Guarantor Financial Informati40

Guarantor Financial Information - Condensed Consolidating Balance Sheet (Details) - USD ($) $ in Thousands		Mar. 31, 2016	Dec. 31, 2015	Mar. 31, 2015	Dec. 31, 2014
Current assets:
Cash and cash equivalents		$ 33,593	$ 41,091	$ 58,311	$ 43,920
Trade accounts receivable, net		291,889	298,474
Prepaid expenses and other current assets		17,387	15,083
Total current assets		342,869	354,648
Property and equipment, net		457,418	470,537
Other assets, net		32,910	38,070
Definite lived intangible assets, net		849,839	871,129
Broadcast licenses		1,097,100	1,097,100
Goodwill		1,544,624	1,544,624
Advances to consolidated subsidiaries		0	0
Investment in consolidated subsidiaries		0	0
Total assets	[1]	4,324,760	4,376,108
Current liabilities:
Trade accounts payable		19,854	35,800
Accrued salaries and wages		21,129	21,465
Accrued expenses and other current liabilities		108,110	95,500
Current installments of long-term debt		3,514	3,804
Current installments of obligation under capital leases		841	859
Total current liabilities		153,448	157,428
Long-term debt excluding current maturities		2,200,343	2,199,110
Deferred tax liability and other long-term tax liabilities		293,973	315,234
Long-term capital lease obligations		13,810	14,012
Retirement and postretirement plans		179,377	182,987
Other liabilities		33,287	34,920
Total liabilities	[2]	2,874,238	2,903,691
Noncontrolling interests		37,465	24,447
Stockholders' equity:
Total stockholders (deficit) equity		1,413,057	1,447,970	1,495,813	1,500,421
Total liabilities, noncontrolling interest and stockholders' equity (deficit)		4,324,760	4,376,108
Reportable Legal Entities [Member] | Media General [Member]
Current assets:
Cash and cash equivalents		0	0	0	2,388
Trade accounts receivable, net		0	0
Prepaid expenses and other current assets		0	0
Total current assets		0	0
Property and equipment, net		0	0
Other assets, net		0	0
Definite lived intangible assets, net		0	0
Broadcast licenses		0	0
Goodwill		0	0
Advances to consolidated subsidiaries		0	0
Investment in consolidated subsidiaries		1,413,057	1,447,970
Total assets		1,413,057	1,447,970
Current liabilities:
Trade accounts payable		0	0
Accrued salaries and wages		0	0
Accrued expenses and other current liabilities		0	0
Current installments of long-term debt		0	0
Current installments of obligation under capital leases		0	0
Total current liabilities		0	0
Long-term debt excluding current maturities		0	0
Deferred tax liability and other long-term tax liabilities		0	0
Long-term capital lease obligations		0	0
Retirement and postretirement plans		0	0
Other liabilities		0	0
Total liabilities		0	0
Noncontrolling interests		0	0
Stockholders' equity:
Total stockholders (deficit) equity		1,413,057	1,447,970
Total liabilities, noncontrolling interest and stockholders' equity (deficit)		1,413,057	1,447,970
Reportable Legal Entities [Member] | LIN Television Corporation [Member]
Current assets:
Cash and cash equivalents		0	1,103	27,816	9,658
Trade accounts receivable, net		77,599	75,866
Prepaid expenses and other current assets		2,743	3,264
Total current assets		80,342	80,233
Property and equipment, net		153,261	158,627
Other assets, net		727	7,199
Definite lived intangible assets, net		359,722	368,011
Broadcast licenses		0	0
Goodwill		527,077	527,077
Advances to consolidated subsidiaries		(237,643)	(206,396)
Investment in consolidated subsidiaries		1,296,899	1,319,392
Total assets		2,180,385	2,254,143
Current liabilities:
Trade accounts payable		399	2,010
Accrued salaries and wages		3,850	2,022
Accrued expenses and other current liabilities		22,291	23,237
Current installments of long-term debt		0	0
Current installments of obligation under capital leases		575	575
Total current liabilities		27,115	27,844
Long-term debt excluding current maturities		668,122	667,867
Deferred tax liability and other long-term tax liabilities		58,015	62,785
Long-term capital lease obligations		12,811	12,953
Retirement and postretirement plans		0	25,917
Other liabilities		1,265	8,807
Total liabilities		767,328	806,173
Noncontrolling interests		0	0
Stockholders' equity:
Total stockholders (deficit) equity		1,413,057	1,447,970
Total liabilities, noncontrolling interest and stockholders' equity (deficit)		2,180,385	2,254,143
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents		29,512	35,925	24,042	27,371
Trade accounts receivable, net		183,913	192,306
Prepaid expenses and other current assets		13,144	10,441
Total current assets		226,569	238,672
Property and equipment, net		301,380	309,160
Other assets, net		29,038	27,523
Definite lived intangible assets, net		445,675	458,261
Broadcast licenses		1,025,800	1,025,800
Goodwill		924,708	924,708
Advances to consolidated subsidiaries		254,351	223,051
Investment in consolidated subsidiaries		0	0
Total assets		3,207,521	3,207,175
Current liabilities:
Trade accounts payable		16,459	30,689
Accrued salaries and wages		16,709	19,016
Accrued expenses and other current liabilities		80,050	68,101
Current installments of long-term debt		0	0
Current installments of obligation under capital leases		246	256
Total current liabilities		113,464	118,062
Long-term debt excluding current maturities		1,508,935	1,507,181
Deferred tax liability and other long-term tax liabilities		237,358	253,232
Long-term capital lease obligations		999	1,059
Retirement and postretirement plans		179,377	157,070
Other liabilities		27,056	20,999
Total liabilities		2,067,189	2,057,603
Noncontrolling interests		0	0
Stockholders' equity:
Total stockholders (deficit) equity		1,140,332	1,149,572
Total liabilities, noncontrolling interest and stockholders' equity (deficit)		3,207,521	3,207,175
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Current assets:
Cash and cash equivalents		4,081	4,063	6,453	4,503
Trade accounts receivable, net		30,377	30,302
Prepaid expenses and other current assets		1,500	1,378
Total current assets		35,958	35,743
Property and equipment, net		2,777	2,750
Other assets, net		3,145	3,348
Definite lived intangible assets, net		44,442	44,857
Broadcast licenses		71,300	71,300
Goodwill		92,839	92,839
Advances to consolidated subsidiaries		(16,708)	(16,655)
Investment in consolidated subsidiaries		0	0
Total assets		233,753	234,182
Current liabilities:
Trade accounts payable		2,996	3,101
Accrued salaries and wages		570	427
Accrued expenses and other current liabilities		5,769	4,162
Current installments of long-term debt		3,514	3,804
Current installments of obligation under capital leases		20	28
Total current liabilities		12,869	11,522
Long-term debt excluding current maturities		23,286	24,062
Deferred tax liability and other long-term tax liabilities		(1,400)	(783)
Long-term capital lease obligations		0	0
Retirement and postretirement plans		0	0
Other liabilities		4,966	5,114
Total liabilities		39,721	39,915
Noncontrolling interests		37,465	24,447
Stockholders' equity:
Total stockholders (deficit) equity		156,567	169,820
Total liabilities, noncontrolling interest and stockholders' equity (deficit)		233,753	234,182
Eliminations [Member]
Current assets:
Cash and cash equivalents		0	0	$ 0	$ 0
Trade accounts receivable, net		0	0
Prepaid expenses and other current assets		0	0
Total current assets		0	0
Property and equipment, net		0	0
Other assets, net		0	0
Definite lived intangible assets, net		0	0
Broadcast licenses		0	0
Goodwill		0	$ 0
Advances to consolidated subsidiaries		0
Investment in consolidated subsidiaries		(2,709,956)	$ (2,767,362)
Total assets		(2,709,956)	(2,767,362)
Current liabilities:
Trade accounts payable		0	0
Accrued salaries and wages		0	0
Accrued expenses and other current liabilities		0	0
Current installments of long-term debt		0	0
Current installments of obligation under capital leases		0	0
Total current liabilities		0	0
Long-term debt excluding current maturities		0	0
Deferred tax liability and other long-term tax liabilities		0	0
Long-term capital lease obligations		0	0
Retirement and postretirement plans		0	0
Other liabilities		0	0
Total liabilities		0	0
Noncontrolling interests		0	0
Stockholders' equity:
Total stockholders (deficit) equity		(2,709,956)	(2,767,362)
Total liabilities, noncontrolling interest and stockholders' equity (deficit)		$ (2,709,956)	$ (2,767,362)
[1]	Consolidated assets as of March 31, 2016 and December 31, 2015, include total assets of variable interest entities (VIEs) of $142 million and $145 million, respectively, which can only be used to settle the obligations of the VIEs. See Note 1 and Note 3.
[2]	Consolidated liabilities as of March 31, 2016 and December 31, 2015, include total liabilities of VIEs of $36 million and $38 million, respectively, for which the creditors of the VIEs have no recourse to the Company, except for certain of the debt, which the Company guarantees. See Note 1 and Note 3.

Guarantor Financial Informati41

Guarantor Financial Information - Condensed Consolidating Statement of Comprehensive Income (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Condensed Income Statements, Captions [Line Items]
Net operating revenue	$ 343,463	$ 296,734
Operating costs:
Operating expenses, excluding depreciation expense	151,143	125,876
Selling, general and administrative expenses	78,321	80,470
Amortization of program license rights	12,066	11,758
Corporate and other expenses	10,352	12,651
Depreciation and amortization	40,121	40,283
Gain related to property and equipment, net	(768)	(228)
Merger-related expenses	65,882	5,277
Restructuring expenses	3,982	0
Operating income (loss)	(17,636)	20,647
Other income (expense):
Interest expense, net	(28,556)	(31,023)
Debt modification and extinguishment costs	0	(613)
Intercompany income and (expenses)	0	0
Equity in income (loss) from operations of consolidated subsidiaries	0	0
Other, net	74	3,290
Total other income (expense)	(28,482)	(28,346)
Loss before income taxes	(46,118)	(7,699)
Income tax benefit (expense)	20,405	3,157
Net income (loss)	(25,713)	(4,542)
Net income (loss) attributable to noncontrolling interest	477	2,891
Net loss attributable to Media General	(26,190)	(7,433)
Other comprehensive income	0	0
Total comprehensive loss attributable to Media General	(26,190)	(7,433)
Reportable Legal Entities [Member] | Media General [Member]
Condensed Income Statements, Captions [Line Items]
Net operating revenue	0	0
Operating costs:
Operating expenses, excluding depreciation expense	0	0
Selling, general and administrative expenses	0	0
Amortization of program license rights	0	0
Corporate and other expenses	0	0
Depreciation and amortization	0	0
Gain related to property and equipment, net	0	0
Merger-related expenses	0	0
Restructuring expenses	0	0
Operating income (loss)	0	0
Other income (expense):
Interest expense, net	0	(1)
Debt modification and extinguishment costs		0
Intercompany income and (expenses)	0	0
Equity in income (loss) from operations of consolidated subsidiaries	(26,190)	(7,432)
Other, net	0	0
Total other income (expense)	(26,190)	(7,433)
Loss before income taxes	(26,190)	(7,433)
Income tax benefit (expense)	0	0
Net income (loss)	(26,190)	(7,433)
Net income (loss) attributable to noncontrolling interest	0	0
Net loss attributable to Media General	(26,190)	(7,433)
Other comprehensive income		0
Total comprehensive loss attributable to Media General	(26,190)	(7,433)
Reportable Legal Entities [Member] | LIN Television Corporation [Member]
Condensed Income Statements, Captions [Line Items]
Net operating revenue	99,091	88,218
Operating costs:
Operating expenses, excluding depreciation expense	42,160	37,599
Selling, general and administrative expenses	22,693	23,524
Amortization of program license rights	4,480	4,178
Corporate and other expenses	0	3,201
Depreciation and amortization	14,399	14,136
Gain related to property and equipment, net	(7)	(36)
Merger-related expenses	0	1,374
Restructuring expenses	0	0
Operating income (loss)	15,366	4,242
Other income (expense):
Interest expense, net	(10,694)	(10,650)
Debt modification and extinguishment costs		0
Intercompany income and (expenses)	(10,107)	(5,535)
Equity in income (loss) from operations of consolidated subsidiaries	(15,958)	(434)
Other, net	0	82
Total other income (expense)	(36,759)	(16,537)
Loss before income taxes	(21,393)	(12,295)
Income tax benefit (expense)	(4,797)	4,863
Net income (loss)	(26,190)	(7,432)
Net income (loss) attributable to noncontrolling interest	0	0
Net loss attributable to Media General	(26,190)	(7,432)
Other comprehensive income	0	0
Total comprehensive loss attributable to Media General	(26,190)	(7,432)
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Net operating revenue	235,157	199,730
Operating costs:
Operating expenses, excluding depreciation expense	100,634	83,759
Selling, general and administrative expenses	53,541	53,218
Amortization of program license rights	7,574	7,101
Corporate and other expenses	10,350	9,458
Depreciation and amortization	23,948	24,672
Gain related to property and equipment, net	(833)	(192)
Merger-related expenses	65,882	3,903
Restructuring expenses	3,982	0
Operating income (loss)	(29,921)	17,811
Other income (expense):
Interest expense, net	(17,586)	(20,087)
Debt modification and extinguishment costs		(613)
Intercompany income and (expenses)	10,451	5,767
Equity in income (loss) from operations of consolidated subsidiaries	0	0
Other, net	74	708
Total other income (expense)	(7,061)	(14,225)
Loss before income taxes	(36,982)	3,586
Income tax benefit (expense)	24,584	(2,274)
Net income (loss)	(12,398)	1,312
Net income (loss) attributable to noncontrolling interest	0	(178)
Net loss attributable to Media General	(12,398)	1,490
Other comprehensive income	0	0
Total comprehensive loss attributable to Media General	(12,398)	1,490
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Condensed Income Statements, Captions [Line Items]
Net operating revenue	17,855	13,742
Operating costs:
Operating expenses, excluding depreciation expense	13,447	7,542
Selling, general and administrative expenses	2,252	4,137
Amortization of program license rights	513	479
Corporate and other expenses	2	(8)
Depreciation and amortization	1,774	1,475
Gain related to property and equipment, net	72	0
Merger-related expenses	0	0
Restructuring expenses	0	0
Operating income (loss)	(205)	117
Other income (expense):
Interest expense, net	(276)	(285)
Debt modification and extinguishment costs		0
Intercompany income and (expenses)	(344)	(232)
Equity in income (loss) from operations of consolidated subsidiaries	0	0
Other, net	0	2,500
Total other income (expense)	(620)	1,983
Loss before income taxes	(825)	2,100
Income tax benefit (expense)	618	568
Net income (loss)	(207)	2,668
Net income (loss) attributable to noncontrolling interest	477	3,069
Net loss attributable to Media General	(684)	(401)
Other comprehensive income	0	0
Total comprehensive loss attributable to Media General	(684)	(401)
Eliminations [Member]
Condensed Income Statements, Captions [Line Items]
Net operating revenue	(8,640)	(4,956)
Operating costs:
Operating expenses, excluding depreciation expense	(5,098)	(3,024)
Selling, general and administrative expenses	(165)	(409)
Amortization of program license rights	(501)	0
Corporate and other expenses	0	0
Depreciation and amortization	0	0
Gain related to property and equipment, net	0	0
Merger-related expenses	0	0
Restructuring expenses	0	0
Operating income (loss)	(2,876)	(1,523)
Other income (expense):
Interest expense, net	0	0
Debt modification and extinguishment costs		0
Intercompany income and (expenses)	0	0
Equity in income (loss) from operations of consolidated subsidiaries	42,148	7,866
Other, net	0	0
Total other income (expense)	42,148	7,866
Loss before income taxes	39,272	6,343
Income tax benefit (expense)	0	0
Net income (loss)	39,272	6,343
Net income (loss) attributable to noncontrolling interest	0	0
Net loss attributable to Media General	39,272	6,343
Other comprehensive income		0
Total comprehensive loss attributable to Media General	$ 39,272	$ 6,343

Guarantor Financial Informati42

Guarantor Financial Information - Condensed Consolidating Statement of Cash Flows (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2016	Mar. 31, 2015
Cash flows from operating activities:
Net cash used by operating activities	$ (4,799)	$ 56,419
Cash flows from investing activities:
Capital expenditures	(6,763)	(7,209)
Proceeds from the sale of property and equipment	3,976	262
Proceeds from spectrum relocation	0	620
Receipt of dividend	0	0
Advances on intercompany borrowings	0
Payments from intercompany borrowings	0	0
Payment of capital contributions		0
Other, net	(10)	(5)
Net cash provided (used) by investing activities	(2,797)	(6,332)
Cash flows from financing activities:
Borrowings under Media General Revolving Credit Facility	30,000	0
Repayments under Media General Revolving Credit Facility	(30,000)	0
Repayments of borrowings	(800)
Repayment of other borrowings	(290)	(290)
Payment of dividend	0	0
Proceeds from intercompany borrowings	0
Payments on intercompany borrowing	0	0
Receipt of capital contributions		0
Exercise of stock options	1,408	958
Other, net	(220)	(764)
Net cash provided (used) by financing activities	98	(35,696)
Net (decrease) increase in cash and cash equivalents	(7,498)	14,391
Cash and cash equivalents at beginning of period	41,091	43,920
Cash and cash equivalents at end of period	33,593	58,311
Shield Media Credit Agreement [Member]
Cash flows from financing activities:
Repayments of borrowings	(800)	(600)
Media General Credit Agreement [Member]
Cash flows from financing activities:
Repayments of borrowings	0	(35,000)
Eliminations [Member]
Cash flows from operating activities:
Net cash used by operating activities	0	0
Cash flows from investing activities:
Capital expenditures	0	0
Proceeds from the sale of property and equipment	0	0
Proceeds from spectrum relocation		0
Receipt of dividend	(19,502)	(19,502)
Advances on intercompany borrowings	2,644
Payments from intercompany borrowings	(12,060)	(14,098)
Payment of capital contributions		3,011
Other, net	0	0
Net cash provided (used) by investing activities	(28,918)	(30,589)
Cash flows from financing activities:
Borrowings under Media General Revolving Credit Facility	0
Repayments under Media General Revolving Credit Facility	0
Repayments of borrowings	0
Repayment of other borrowings	0	0
Payment of dividend	19,502	19,502
Proceeds from intercompany borrowings	(2,644)
Payments on intercompany borrowing	12,060	14,098
Receipt of capital contributions		(3,011)
Exercise of stock options	0	0
Other, net	0	0
Net cash provided (used) by financing activities	28,918	30,589
Net (decrease) increase in cash and cash equivalents	0	0
Cash and cash equivalents at beginning of period	0	0
Cash and cash equivalents at end of period	0	0
Eliminations [Member] | Shield Media Credit Agreement [Member]
Cash flows from financing activities:
Repayments of borrowings		0
Eliminations [Member] | Media General Credit Agreement [Member]
Cash flows from financing activities:
Repayments of borrowings		0
Reportable Legal Entities [Member] | Media General [Member]
Cash flows from operating activities:
Net cash used by operating activities	0	(1,402)
Cash flows from investing activities:
Capital expenditures	0	0
Proceeds from the sale of property and equipment	0	0
Proceeds from spectrum relocation		0
Receipt of dividend	0	0
Advances on intercompany borrowings	0
Payments from intercompany borrowings	0	2,025
Payment of capital contributions		(3,011)
Other, net	0	0
Net cash provided (used) by investing activities	0	(986)
Cash flows from financing activities:
Borrowings under Media General Revolving Credit Facility	0
Repayments under Media General Revolving Credit Facility	0
Repayments of borrowings	0
Repayment of other borrowings	0	0
Payment of dividend	0	0
Proceeds from intercompany borrowings	0
Payments on intercompany borrowing	0	0
Receipt of capital contributions		0
Exercise of stock options	0	0
Other, net	0	0
Net cash provided (used) by financing activities	0	0
Net (decrease) increase in cash and cash equivalents	0	(2,388)
Cash and cash equivalents at beginning of period	0	2,388
Cash and cash equivalents at end of period	0	0
Reportable Legal Entities [Member] | LIN Television Corporation [Member]
Cash flows from operating activities:
Net cash used by operating activities	(4,065)	12,021
Cash flows from investing activities:
Capital expenditures	(1,716)	(2,314)
Proceeds from the sale of property and equipment	29	36
Proceeds from spectrum relocation		0
Receipt of dividend	19,502	19,502
Advances on intercompany borrowings	(2,644)
Payments from intercompany borrowings	0	0
Payment of capital contributions		0
Other, net	0	0
Net cash provided (used) by investing activities	15,171	17,224
Cash flows from financing activities:
Borrowings under Media General Revolving Credit Facility	0
Repayments under Media General Revolving Credit Facility	0
Repayments of borrowings	0
Repayment of other borrowings	0	0
Payment of dividend	0	0
Proceeds from intercompany borrowings	0
Payments on intercompany borrowing	(12,060)	(14,098)
Receipt of capital contributions		3,011
Exercise of stock options	0	0
Other, net	(149)	0
Net cash provided (used) by financing activities	(12,209)	(11,087)
Net (decrease) increase in cash and cash equivalents	(1,103)	18,158
Cash and cash equivalents at beginning of period	1,103	9,658
Cash and cash equivalents at end of period	0	27,816
Reportable Legal Entities [Member] | Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash used by operating activities	(596)	42,361
Cash flows from investing activities:
Capital expenditures	(3,649)	(4,288)
Proceeds from the sale of property and equipment	3,947	226
Proceeds from spectrum relocation		620
Receipt of dividend	0	0
Advances on intercompany borrowings	0
Payments from intercompany borrowings	12,060	12,073
Payment of capital contributions		0
Other, net	(10)	0
Net cash provided (used) by investing activities	12,348	8,631
Cash flows from financing activities:
Borrowings under Media General Revolving Credit Facility	30,000
Repayments under Media General Revolving Credit Facility	(30,000)
Repayments of borrowings	0
Repayment of other borrowings	0	0
Payment of dividend	(19,502)	(19,502)
Proceeds from intercompany borrowings	0
Payments on intercompany borrowing	0	0
Receipt of capital contributions		0
Exercise of stock options	1,408	958
Other, net	(71)	(777)
Net cash provided (used) by financing activities	(18,165)	(54,321)
Net (decrease) increase in cash and cash equivalents	(6,413)	(3,329)
Cash and cash equivalents at beginning of period	35,925	27,371
Cash and cash equivalents at end of period	29,512	24,042
Reportable Legal Entities [Member] | Non-Guarantor Subsidiaries [Member]
Cash flows from operating activities:
Net cash used by operating activities	(138)	3,439
Cash flows from investing activities:
Capital expenditures	(1,398)	(607)
Proceeds from the sale of property and equipment	0	0
Proceeds from spectrum relocation		0
Receipt of dividend	0	0
Advances on intercompany borrowings	0
Payments from intercompany borrowings	0	0
Payment of capital contributions		0
Other, net	0	(5)
Net cash provided (used) by investing activities	(1,398)	(612)
Cash flows from financing activities:
Borrowings under Media General Revolving Credit Facility	0
Repayments under Media General Revolving Credit Facility	0
Repayments of borrowings	(800)
Repayment of other borrowings	(290)	(290)
Payment of dividend	0	0
Proceeds from intercompany borrowings	2,644
Payments on intercompany borrowing	0	0
Receipt of capital contributions		0
Exercise of stock options	0	0
Other, net	0	13
Net cash provided (used) by financing activities	1,554	(877)
Net (decrease) increase in cash and cash equivalents	18	1,950
Cash and cash equivalents at beginning of period	4,063	4,503
Cash and cash equivalents at end of period	$ 4,081	6,453
Reportable Legal Entities [Member] | Shield Media Credit Agreement [Member] | Media General [Member]
Cash flows from financing activities:
Repayments of borrowings		0
Reportable Legal Entities [Member] | Shield Media Credit Agreement [Member] | LIN Television Corporation [Member]
Cash flows from financing activities:
Repayments of borrowings		0
Reportable Legal Entities [Member] | Shield Media Credit Agreement [Member] | Guarantor Subsidiaries [Member]
Cash flows from financing activities:
Repayments of borrowings		0
Reportable Legal Entities [Member] | Shield Media Credit Agreement [Member] | Non-Guarantor Subsidiaries [Member]
Cash flows from financing activities:
Repayments of borrowings		(600)
Reportable Legal Entities [Member] | Media General Credit Agreement [Member] | Media General [Member]
Cash flows from financing activities:
Repayments of borrowings		0
Reportable Legal Entities [Member] | Media General Credit Agreement [Member] | LIN Television Corporation [Member]
Cash flows from financing activities:
Repayments of borrowings		0
Reportable Legal Entities [Member] | Media General Credit Agreement [Member] | Guarantor Subsidiaries [Member]
Cash flows from financing activities:
Repayments of borrowings		(35,000)
Reportable Legal Entities [Member] | Media General Credit Agreement [Member] | Non-Guarantor Subsidiaries [Member]
Cash flows from financing activities:
Repayments of borrowings		$ 0