Media General Inc.’s 1988 net income fell...

Media General Inc.’s 1988 net income fell 79% to $8.8 million. Revenue increased 5.6% to $755.7 million. The Richmond, Va., newspaper, broadcast and newsprint firm said the results include a non-recurring pretax charge of $66.3 million due to divestitures and writedowns of non-productive assets, including the divestiture of its broadcast services operation and a $5-million charge for unamortized good-will at a group of weekly newspapers in the Los Angeles and Orange County areas.