Media General Inc.'s profits increased by more than two-fold during the third quarter, due to the U.S. media group's broadcast ads, the Associated Press reported Thursday.

The company announced its earnings in the three months ending Sept. 28 were at US$6.1 million, up from $2.5 million in the same quarter last year.

The share price in the third quarter was 28 cents per share, up from 11 cents per share, the AP reported in an article posted by Editor & Publisher.

However, revenue fell 11 percent to $194 million. Broadcast revenue decreased 1.5 percent, but increased advertising, due to the political ads during election season and Olympics ads, have kept the drop low. Media General's broadcast sector had a 24.5 percent profit due to cost cuts, according to the AP.

The company's publishing arm plummeted 53 percent, due to the declining economy and a struggle to replace losses in print revenue with online earnings, the AP reported.

“This year's weak economy and unfavourable business climate have created far more challenges than anyone anticipated, as you all well know,” Marshall Morton, Media General's chief executive said in a call with analysts, MarketWatch reported.