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MULTIMEDIA REPORTS NET EARNINGS FOR FIRST QUARTER

 MULTIMEDIA REPORTS NET EARNINGS FOR FIRST QUARTER
 GREENVILLE, S.C., April 20 /PRNewswire/ -- Walter E. Bartlett,


Chairman of the Board and Chief Executive Officer of Multimedia, Inc. (NASDAQ-NMS: MMEDC), today announced a 15.5 percent increase in net earnings for the first quarter ended March 31, 1992. Net earnings for the first quarter of 1992 were $10,370,000 compared with $8,976,000 for the first quarter of last year. The earnings per share for the quarter were $.28 compared with $.24 for the first quarter of 1991.
 Revenues for the first quarter totalled $126,006,000 compared with $119,175,000 for the first quarter of last year, an increase of 5.7 percent. Operating profit for the first quarter was $34,763,000, a 2.4 percent increase over the 1991 first quarter operating profit of $33,956,000. Operating cash flow (A) for the quarter totalled $46,284,000, a 4.9 percent increase over the 1991 first quarter amount of $44,133,000. Interest expense for the first quarter of 1992 was $18,778,000, a decrease of $1,798,000 compared with the first quarter of 1991.
 Newspaper revenues decreased .4 percent from $29,955,000 to $29,832,000 for the quarter. Broadcasting revenues were $31,328,000 compared with $31,794,000, a decrease of 1.5 percent. Cablevision revenues increased 15.9 percent from $32,183,000 to $37,303,000. Entertainment revenues increased 9.1 percent from
$25,243,000 to $27,543,000. Newspaper cash flow (A) decreased .8 percent to $8,853,000; broadcasting cash flow (A) decreased 11.5 percent to $7,665,000; cablevision cash flow (A) increased 17.0 percent to $18,983,000 and entertainment cash flow (A) increased 6.3 percent to $12,877,000.
 Newspaper and broadcasting revenues and operating cash flow (A) continue to be adversely affected by the sluggish retail advertising environment. Multimedia Cablevision includes the Company's security alarm business which has increased to 31,000 subscribers at the end of the first quarter of 1992 from 5,000 a year ago.
 Multimedia, Inc. is a diversified media communications company which publishes 12 daily and 49 non-daily newspapers, owns and operates five television and eight radio stations and a video production company, operates more than 100 cable franchises in four states, and produces and syndicates quality television programming, including the Donahue and Sally Jessy Raphael shows.
 (A) Operating cash flow, as defined by the Company, is operating profit plus depreciation and amortization, and amortization of stock awards and stock options.
 MULTIMEDIA, INC. AND SUBSIDIARIES
 CONSOLIDATED STATEMENTS OF EARNINGS
 THREE MONTHS ENDED MARCH 31, 1992 AND 1991
 (UNAUDITED)
 (IN THOUSANDS EXCEPT PER SHARE DATA)
 1992 1991
 Operating Revenues:
 Newspapers $29,832 29,955
 Broadcasting 31,328 31,794
 Cablevision 37,303 32,183
 Entertainment 27,543 25,243
 Total operating
 revenues 126,006 119,175
 Operating costs and
 expenses:
 Production 43,737 42,512
 Selling, general &
 administrative 36,929 33,398
 Depreciation 7,818 7,410
 Amortization 2,759 1,899
 Total operating costs
 & expenses 91,243 85,219
 Operating profit 34,763 33,956
 Interest expense 18,778 20,576
 Other income
 (expense), net 35 259
 Earnings before income
 taxes and minority
 interest 16,020 13,639
 Income tax expense 6,568 5,319
 Minority interest 918 656
 Net earnings $10,370 8,976
 Per share of
 common stock:
 Net earnings $0.28 0.24
 Cash dividends - -
 Weighted average
 shares 37,504 37,026
 -0- 4/20/92
 /CONTACT: Elizabeth S. Mills, Vice President, Corporate Communications, Multimedia, Inc., 803-298-4393, or 803-298-4389/
 (MMEDC) CO: Multimedia, Inc. ST: South Carolina IN: PUB TLS SU: ERN


DF-CM -- CH007 -- 9953 04/20/92 10:34 EDT
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Date:Apr 20, 1992
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