meg20140623_11k.htm

SECURITIES AND EXCHANGE COMMISSION

 

WASHINGTON, D.C. 20549

 

FORM 11-K

 

FOR ANNUAL REPORTS OF EMPLOYEE STOCK PURCHASE, SAVINGS

AND SIMILAR PLANS PURSUANT TO SECTION 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

 

(Mark One):

 

[X]

ANNUAL REPORT PURSUANT TO SECTION 15 (d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the fiscal year ended December 31, 2013

 

or

 

[ ]

TRANSITION REPORT PURSUANT TO SECTION 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the transition period from            to           

 

Commission file number V-1799

 

A.     Full title of the plan and the address of the plan, if different from that of the issuer named below:

 

MG ADVANTAGE 401(k) PLAN

 

B.     Name of the issuer of the securities held pursuant to the plan and the address of its principal executive office:

 

MEDIA GENERAL, INC.

333 East Franklin Street

Richmond, Virginia 23219

 

 
 
 

  

Financial Statements

and Supplemental Schedule

 

MG Advantage 401(k) Plan

 

Years ended December 31, 2013, and 2012

with Report of Independent Registered Public Accounting Firm

 

 
 
 

 

Table of Contents

 

 

MG Advantage 401(k) Plan

 

Financial Statements

and Supplemental Schedule

 

 

Years Ended December 31, 2013, and 2012

 

 

 

 

 

Table of Contents

 

Report of Independent Registered Public Accounting Firm

1

 

 

Financial Statements

 

 

 

Statements of Net Assets Available for Plan Benefits

2

Statements of Changes in Net Assets Available for Plan Benefits

3

Notes to Financial Statements

4-10

 

 

 

 

Supplemental Schedule

Schedule

 

 

Schedule H, line 4 (i) Schedule of Assets (Held as of End of Year), December 31, 2013

A

 

 

 

 
 
 

 

Report of Independent Registered Public Accounting Firm

 

To the Administrator of the
MG Advantage 401(k) Plan

 

 

We have audited the accompanying statements of net assets available for plan benefits of the MG Advantage 401(k) Plan (the “Plan”) as of December 31, 2013 and 2012, and the related statements of changes in net assets available for plan benefits for the years then ended. These financial statements are the responsibility of the Plan’s management. Our responsibility is to express an opinion on these financial statements based on our audits.

 

We conducted our audits in accordance with the standards of the Public Company Accounting Oversight Board (United States). Those standards require that we plan and perform the audits to obtain reasonable assurance about whether the financial statements are free of material misstatement. An audit includes examining, on a test basis, evidence supporting the amounts and disclosures in the financial statements. An audit also includes assessing the accounting principles used and significant estimates made by management, as well as evaluating the overall financial statement presentation. We believe that our audits provide a reasonable basis for our opinion.

 

In our opinion, the financial statements referred to above present fairly, in all material respects, the net assets available for plan benefits of the Plan as of December 31, 2013 and 2012, and the changes in its net assets available for plan benefits for the years then ended, in conformity with accounting principles generally accepted in the United States.

 

Our audits were conducted for the purpose of forming an opinion on the basic financial statements taken as a whole. The supplemental schedule is presented for the purpose of additional analysis and is not a required part of the basic financial statements, but is supplementary information required by the Department of Labor’s Rules and Regulations for Reporting and Disclosure under the Employee Retirement Income Security Act of 1974. The supplemental schedule is the responsibility of the Plan’s management. The supplemental schedule has been subjected to the auditing procedures applied in our audit of the basic financial statements and, in our opinion, is fairly stated in all material respects in relation to the basic financial statements taken as a whole.

 

 

/s/ Keiter, Stephens, Hurst, Gary & Shreaves, P.C.

 

 

June 24, 2014

Glen Allen, Virginia

 

 
1
 

 

MG Advantage 401(k) Plan

Statements of Net Assets Available for Plan Benefits

 

   

December 31,

2013

    

December 31,

2012

  

Assets

                

Cash and cash equivalents

   $ 1,766,593     $ 674,486  

Investments, at fair value

     190,140,691       177,728,577  

Notes receivable from participants

    2,527,063       5,705,954  

Total assets

     194,434,347       184,109,017  
                 

Liabilities

                

Excess contributions

     13,056       103,203  
                 

Net assets available for plan benefits, at fair value

     194,421,291       184,005,814  
                 

Adjustment from fair value to contract value for fully benefit-responsive investment contracts

     (207,808 )     (560,633 )
                 

Net assets available for plan benefits

   $ 194,213,483     $ 183,445,181  

 

See accompanying notes.

  

 
2
 

 

MG Advantage 401(k) Plan

Statements of Changes in Net Assets Available for Plan Benefits

 

   

Year Ended

December 31,

2013

    

Year Ended

December 31,

2012

  

Additions:

                

Investment income:

                

Interest and dividends

   $ 8,276,671     $ 3,147,666  

Net realized and unrealized appreciation in fair value of investments

     64,148,318       16,529,308  
      72,424,989       19,676,974  
                 

Interest on notes receivable from participants

     153,646       351,213  
                 

Contributions:

                

Employer

     1,276,618       2,526,719  

Participants

     4,545,227       8,491,235  

Rollovers

     259,251       517,750  
      6,081,096       11,535,704  
                 

Total additions

     78,659,731       31,563,891  
                 

Deductions:

                

Distributions to participants

     (67,891,429 )     (29,083,546 )
                 

Net increase in net assets available for plan benefits

     10,768,302       2,480,345  

Net assets available for plan benefits as of the beginning of the year

     183,445,181       180,964,836  
                 

Net assets available for plan benefits as of the end of the year

   $ 194,213,483     $ 183,445,181  

 

See accompanying notes.

 

 
3
 

 

MG Advantage 401(k) Plan

Notes to Financial Statements

December 31, 2013

1.

General

 

Fidelity Management Trust Company (Fidelity) and its affiliates are the trustee, recordkeeper, and investment manager of the MG Advantage 401(k) Plan (the Plan), pursuant to a trust agreement dated January 1, 2001. The investment fund options include 20 Fidelity funds, the Lord Abbett Small Cap Value Fund, the Rainier Small/Mid Cap Value Fund, the Dodge & Cox Stock Fund, the Goldman Sachs Mid Cap Value Class A Fund, and the Media General, Inc. Common Stock Fund. There were no changes in fund options in 2013. Media General, Inc. (the Company) is the Administrator of the Plan.


2.

Significant Accounting Policies

 

Basis of Accounting

The financial statements of the Plan are prepared on the accrual basis of accounting.

 

Valuation of Investments

All investments are carried at fair value or an approximation of fair value. Securities transactions are recorded as of the trade-date. Dividends are recorded on the ex-dividend date and interest is accrued as earned. The Plan invests in various investment securities. Investment securities are exposed to various risks such as interest rate, market and credit risks. Due to the level of risk associated with certain investment securities, it is possible that changes in the values of investment securities will occur in the near term and such changes could materially affect the amounts reported in the Statements of Net Assets Available for Plan Benefits. Notes receivable from participants are recorded at their unpaid principal balance plus any accrued but unpaid interest.

 

Generally accepted accounting principles define fair value as the exchange price that would be received for an asset or paid to transfer a liability (an exit price) in the principal or most advantageous market for the asset or liability in an orderly transaction value hierarchy which requires an entity to maximize the use of observable inputs when measuring fair value.

 

The following provides a description of the three levels of inputs that may be used to measure fair value, the types of Plan investments that fall under each category, and the valuation methodologies used to measure these investments at fair value.

 

Level 1 – Inputs to the valuation methodology are quoted prices available in active markets for identical investments as of the reporting date.

 

Mutual Funds and the Media General, Inc. Common Stock Fund:

These investments are public investment securities valued using the Net Asset Value (NAV). The NAV is based on the value of the underlying assets owned by the fund, minus its liabilities, and then divided by the number of shares outstanding. The NAV is a quoted price in an active market.

 

Level 2 – Inputs to the valuation methodology are other than quoted prices in active markets, which are either directly or indirectly observable as of the reporting date, and fair value can be determined through the use of models or other valuation methodologies.

 

Common/Collective Investment Trust:

These investments are public investment securities valued using the NAV provided by Fidelity. The NAV is quoted on a private market that is not active; however, the unit price is based on underlying investments which are traded on an active market.

 

Level 3 – Inputs to the valuation methodology are unobservable inputs in situations where there is little or no market activity for the asset or liability and the reporting entity makes estimates and assumptions related to the pricing of the asset or liability including assumptions regarding risk.

 

No Plan investments are in this category.

 

 
4
 

 

MG Advantage 401(k) Plan

Notes to Financial Statements (continued)

 

2.     Significant Accounting Policies (continued)

 

Valuation of Investments (continued)

Investment contracts held by a defined contribution plan are required to be reported at fair value. Contract value, however, is the relevant measurement attributable to fully benefit-responsive investment contracts because contract value is the amount participants would receive if they were to initiate permitted transactions under the terms of the Plan. The Plan invests in fully benefit-responsive investment contracts thorough a common/collective fund (Fidelity Managed Income Portfolio Fund). The Statements of Net Assets Available for Plan Benefits present the fair value of the Fidelity Managed Income Portfolio and the adjustment from fair value to contract value.

 

Fidelity Managed Income Portfolio Fund

The Managed Income Portfolio Fund (the “Fund”) was valued using the net asset value (NAV) of the shares held by the Plan as of December 31, 2013 and 2012. The NAV is quoted on a private market that is not active; however, the unit price is based on underlying investments which are traded on an active market. Accordingly, the Plan considers the investment to be Level 2 under the fair value hierarchy. The Fund invests primarily in corporate bonds, US and foreign government bonds, asset backed securities, commercial paper, as well as certain wrap contracts. A wrap contact is an agreement by a third party, such as a bank or insurance company to make payments to a portfolio in certain circumstances and is designed to allow a stable value portfolio to maintain a constant value.

 

The issuer of the wrap contract provides assurance that the adjustments to the interest crediting rate do not result in a future interest crediting rate that is less than zero. An interest crediting rate less than zero would result in a loss of principal or accrued interest. The key factors that influence future interest crediting rates for a wrap contract include the level of market interest rates, the amount and timing of participant contributions, transfers and withdrawals into and out of the wrap contract, the investment returns generated by the fixed income investments that back the wrap contract and the duration of the underlying investments backing the wrap contract. Wrap contracts’ interest crediting rates are reset on a monthly basis.

 

A wrap issuer may terminate a wrap contract at any time. The wrap issuer may also terminate a wrap contract if Fidelity’s investment management over the Fund is limited or terminated as well as if all of the terms of the wrap contract fail to be met. In the event that market value of the Fund’s covered assets is below contract value at the time of such termination, the terminating wrap provider would not be required to make a payment to the Fund.

 

The Fund is presented in the Statement of Changes in Net Assets Available for Plan Benefits at contract value, as reported to the Plan by the Trustee. There are no reserves against contract value for credit risk of the contract issuer or otherwise for 2013 and 2012. The average yield for the investment contracts based on actual earnings was 1.54% and 1.70% in 2013 and 2012, respectively. This average yield represents the annualized earnings of all investments in the Fund during each year divided by the fair value of all investments in the Fund. The average yield adjusted to reflect the actual interest rate credited to participants was 0.89% and 1.05% in 2013 and 2012, respectively. The average credited yield represents the annualized earnings credited to participants in the Fund during each year divided by the fair value of all investments in the Fund.

 

Income Tax Status

The Internal Revenue Service ruled on February 27, 2003 that the Plan qualified under Section 401(a) of the Internal Revenue Code (IRC) as of January 1, 2002, and, therefore, the related trust is not subject to tax under present income tax law. Employee contributions qualify as "cash or deferred" contributions under Section 401(k) of the IRC. Once qualified, the Plan is required to operate in conformity with the IRC to maintain its qualification. On January 30, 2010, the Company requested a new ruling from the IRS which will cover all amendments and restatements since the February 27, 2003 ruling up through December 31, 2009. A new ruling has not yet been received. The Company believes the Plan continues to qualify under the IRC and the related trust is tax exempt.

 

Use of Estimates

The preparation of financial statements in conformity with U.S. generally accepted accounting principles requires management to make estimates and assumptions that affect the amounts reported in the financial statements and the accompanying notes. Actual results could differ from these estimates.

 

Partial termination

On June 25, 2012, the Company sold a portion of its operations to an unaffiliated third party. Subsequent to entering into the sale agreement, the Company consummated other business arrangements with the third party making them a related party of the Company as of December 31, 2012. As a result of the sale, approximately 2,760 participants were no longer eligible to contribute and each became fully vested immediately in the Plan according to IRS regulations. In 2013, a significant number of participants exited the plan, which is reflected in the increase in distributions to participants on the Statements of Changes in Net Assets Available for Plan Benefits.

 

 
5
 

 

MG Advantage 401(k) Plan

Notes to Financial Statements (continued)

 

3.     Contributions

 

The Plan allows participants to make pre-tax contributions by means of regular payroll deductions, up to 30% of a participant's total compensation, subject to limitations prescribed by the Internal Revenue Code. Participants may change their investment elections directly with Fidelity at any time. The Company matched an amount equal to 100% of contributions up to 2% of a participant’s total pay.

 

Participants may rollover account balances from a prior employer's qualified retirement plan or "conduit" IRA that holds only prior qualified plan balances. Participant contributions are invested in accordance with Plan terms directed by participants in the 25 investment options mentioned in Note 1. Company matching contributions are initially invested in Company stock.

 

A participant may designate all or part of their elective contribution as a Roth contribution. Such contributions are after-tax in accordance with Roth guidelines.

 

The Plan also includes, among other things, a note receivable feature (see Note 6). Under specified guidelines, a participant may request the trustee to transfer a portion of the participant's balance in other funds into a note receivable account for disbursement as a note receivable to the participant. Repayment of principal and interest is generally made by payroll deduction and the notes receivable are fully secured by the participant's account balance.

 

By law, all Non-Safe Harbor plans must perform a test to determine if the ratio of contribution deferrals for highly compensated and non-highly compensated employees meets federal guidelines. The Plan refunded $13,056 and $103,203 of 2013 and 2012 contribution deferrals, respectively, back to highly compensated employees during early 2014 and 2013 to be compliant with this test.

 

 

4.     Profit Sharing Contributions

 

The Plan has a profit sharing component, dependent upon the Company meeting certain specified financial objectives. This component can range from 2% to 6% of a participant’s compensation. Participants are not required to make contributions to receive the profit sharing contribution. All Plan participants on January 1 of a given year are eligible to receive a profit sharing contribution for that year. Otherwise, to be eligible, one must have attained age 18 and completed 1,000 hours of service in the first 12 months of employment or in a given Plan Year. Once eligible, participants will receive a profit sharing allocation, if one is made, if they completed 1,000 hours of service during the Plan Year, and were employed on the last day of the year or die, retire, or become totally and permanently disabled during that Plan Year. If an eligible participant terminates during the Plan Year for other reasons, these former employees may still receive a profit sharing contribution for that Plan Year if they attained age 55 with 10 years of service and were hired before January 1, 2008; or attained age 60 with 10 years of service and were hired after December 31, 2008.

 

There was no profit sharing contribution for the 2013 or 2012 plan years.

 

 
6
 

 

MG Advantage 401(k) Plan

Notes to Financial Statements (continued)

 

5.     Eligibility, Vesting, Withdrawals, and Terminations

 

Any employee who has completed 45 days of service and is at least 18 years old shall be eligible to participate in the Plan as of the first day of the month following meeting these eligibility requirements. In the event of termination of employment or withdrawal from the Plan, participants may receive the total value of their account either directly or by rollover to another qualified account. If the participant’s account value is $1,000 or greater at the time of termination, they may keep their balance in the Plan. The vesting provisions of the Plan provide for immediate 100% vesting of the value of Company matching contributions. Participants are 100% vested in their Profit Sharing Account after completion of three years of service, death, becoming totally and permanently disabled, or reaching age 65. Forfeited non-vested amounts relating to Profit Sharing contributions approximated $2,400 and $2,900 as of December 31, 2013 and 2012, respectively. The Company did not utilize any forfeiture balances to reduce Company contributions during 2013 or 2012.

 

The Company has established the Plan with the intention that it will continue. The Company has the right at any time to terminate the Plan. Should the Plan be terminated, the value of the participants' accounts would be distributed to the participants in a manner consistent with the Summary Plan Document.

 

The above descriptions are provided for informational purposes. Readers should refer to the most recently updated Summary Plan Document for more complete information on Plan provisions.

 

 

6.     Notes Receivable from Participants

 

The Plan has a note receivable feature available to all Plan participants. Notes receivable are made from the participant's account, reducing the investment balance and creating a note receivable from participants in the Statement of Net Assets Available for Plan Benefits. Notes receivable are secured by the participant's vested account balance. Notes receivable to terminated participants and notes receivable in default are treated as distributions to the participant. Notes receivable are generally repaid through payroll deduction including principal and interest. The principal portion reduces the receivable from participants and both principal and interest are transferred to the participant's investment account as repayments are received.

 

Participants may obtain notes receivable based on the vested value of their accounts. New notes receivable cannot exceed 50% of the participant's account value (excluding the value of any profit sharing component) or a maximum of $50,000 in accordance with the Department of Labor's regulations on notes receivable to participants. Notes receivable are limited to one note receivable per participant per twelve-month period with a maximum of two notes receivables outstanding at any one time. Notes receivable shall bear a reasonable rate of interest and must be repaid over a period not to exceed 5 years unless used to purchase the participant's primary residence, in which case the notes receivable must be repaid over a period not to exceed 10 years. Notes receivable from participants are measured at their unpaid principal balances plus any accrued but unpaid interest. Management has evaluated notes receivable from participants for collectability and has determined that no allowance is considered necessary.

 

 
7
 

 

MG Advantage 401(k) Plan

Notes to Financial Statements (continued)

 

7.     Investments

 

Investments representing five percent or more of the Plan's net assets as of December 31, 2013 and 2012 consisted of the following:

 

Name and Title

  

2013

    

2012

  

Media General, Inc. Common Stock Fund

   $ 49,658,528     $ 16,738,597  

Fidelity Fund

     13,652,869       15,465,498  

Fidelity Managed Income Portfolio Fund (at contract value)

     13,578,905       19,030,070  

Fidelity Growth Company

     21,007,903       21,624,340  

Fidelity Freedom 2020

     11,451,225       15,148,783  

Lord Abbett Small Cap Value Fund

     10,947,932       11,916,265  

Fidelity Freedom 2030

     11,331,953       13,459,118  

Fidelity Diversified International

     --- *       10,737,563  

Fidelity Intermediate Bond

     --- *       9,594,061  

 

* Represents less than 5% of Plan assets as of December 31, 2013

 

 

The Plan's investments appreciated / (depreciated) in fair value during 2013 and 2012 as follows:

 

Name and Title

  

2013

    

2012

  

Media General, Inc. Common Stock Fund

   $ 44,355,903     $ 1,270,748  

Fidelity Fund

     2,432,213       2,167,412  

Fidelity Growth Company

     4,840,511       2,965,963  

Fidelity OTC Portfolio

     1,698,214       800,961  

Fidelity Diversified International

     1,908,339       1,680,920  

Fidelity Freedom Income

     11,730       132,928  

Fidelity Freedom 2000

     7,948       47,320  

Fidelity Freedom 2005

     3,464       8,698  

Fidelity Freedom 2010

     528,811       666,109  

Fidelity Freedom 2015

     75,962       82,105  

Fidelity Freedom 2020

     1,088,251       1,422,508  

Fidelity Freedom 2025

     129,758       86,090  

Fidelity Freedom 2030

     1,527,954       1,331,805  

Fidelity Freedom 2035

     106,979       60,646  

Fidelity Freedom 2040

     694,566       592,377  

Fidelity Freedom 2045

     95,537       59,679  

Fidelity Freedom 2050

     69,367       38,361  

Fidelity Freedom 2055

     7,411       687  

Fidelity Intermediate Bond

     (178,576 )     207,328  

Fidelity Spartan Equity Index

     1,120,093       304,632  

Lord Abbett Small Cap Value Fund

     909,473       911,145  

Rainer Small/Mid Cap Value Fund

     852,217       469,842  

Dodge & Cox Stock Fund

     1,527,935       828,736  

Goldman Sachs Mid Cap Value Class A Fund

     334,258       392,308  

Total

   $ 64,148,318     $ 16,529,308  

 

 
8
 

  

MG Advantage 401(k) Plan

Notes to Financial Statements (continued)

 

8.     Fair Value Measurements

 

Below are the Plan’s investments carried at fair value on a recurring basis by their fair value hierarchy levels as of December 31, 2013, and 2012:

 

Level 1 - Quoted Prices in Active Markets for Identical Assets:

 

   

2013

Fair Value

    

2012

Fair Value

  

Mutual Funds:

                

Growth Funds

   $ 53,285,105     $ 52,543,672  

Balanced Funds

     42,052,107       50,540,574  

Fixed Income Funds

     5,287,329       9,594,061  

Mid Cap Funds

     5,840,260       6,067,142  

Small Cap Funds

     10,947,932       11,916,265  

International Funds

     9,282,717       10,737,563  

Media General Inc. Common Stock Fund

     49,658,528       16,738,597  

Total

   $ 176,353,978     $ 158,137,874  

 

 

Level 2 - Significant Observable Inputs:

 

As of December 31, 2013:

 

Investment

  

Fair

Value

 

Unfunded

Commitment

 

Redemption

Frequency

 

Other Redemption

Restrictions

  

Redemption

Notice Period

Fidelity Managed Income

Portfolio Fund

  

$ 13,786,713

 

None

  

Immediate

 

None

  

None

 

As of December 31, 2012:

 

Investment

  

Fair

Value

 

Unfunded

Commitment

 

Redemption

Frequency

 

Other Redemption

Restrictions

  

Redemption

Notice Period

Fidelity Managed Income

Portfolio Fund

  

$ 19,590,703

 

None

  

Immediate

 

None

  

None

 

9.     Related Party Transactions

 

Recurring administrative expenses of the Plan, which include trustee fees, are paid by Media General, Inc. Administrative expenses for trust management services for the years ended December 31, 2013 and 2012 were approximately $47,000 and $45,000, respectively, all paid to Fidelity, a related party to the Plan.

 

 
9
 

 

MG Advantage 401(k) Plan

Notes to Financial Statements (continued)

 

10.     Reconciliation of Financial Statements to Form 5500

 

The following is a reconciliation of net assets available for benefits recorded on the financial statements as of December 31, 2013, and 2012 to Form 5500:

 

   

2013

    

2012

  

Net assets available for plan benefits per the financial statements

   $ 194,213,483     $ 183,445,181  

Plus adjustment from contract value to fair value for fully benefit-responsive investment contracts

     207,808       560,633  

Net assets available for plan benefits per Form 5500

   $ 194,421,291     $ 184,005,814  
                 

Net increase in net assets available for plan benefits per the financial statements

   $ 10,768,302     $ 2,480,345  

Plus adjustment from contract value to fair value for fully benefit-responsive investment contracts as of end of year

     207,808       560,633  

Less adjustment from contract value to fair value for fully benefit-responsive investment contracts as of beginning of year

     (560,633 )     (489,619 )

Net increase in net assets available for plan benefits per Form 5500

   $ 10,415,477     $ 2,551,359  

  

The accompanying financial statements present fully benefit-responsive contracts at contract value. The Form 5500 reported fully benefit-responsive contracts at fair value. Therefore, the adjustment from fair value to contract value for fully benefit-responsive contracts represents a reconciling item.

 

 

11.     Subsequent Events

 

Effective January 1, 2014 to June 30, 2014, Plan participants receive a dollar-for-dollar company matching contribution for the first 3% of compensation contributed and 50 cents on the dollar at the 4% and 5% levels. Beginning July 1, 2014 participants receive 50 cents on the dollar for the first 6% compensation contributed.

 

Effective April 23, 2014, the Young Broadcasting 401(k) Plan merged with the Plan, resulting in $64,118,466 in rollover contributions. Other than these disclosures, Management has evaluated subsequent events through June 24, 2014, the date the financial statements were issued, and has determined there are no other subsequent events to be reported in the accompanying financial statements.

 

 
10
 

 

 

Supplemental Schedule

 

 

 
 

 

Schedule A

 

 MG Advantage 401(k) Plan

 

EIN: 54-0850433 Plan: 001

Schedule H, Line 4 (i)

Schedule of Assets (Held as of End of Year) **

 

December 31, 2013

 

Identity of Issue, Borrower, Lessor, or Similar Party

  

Description Of Investment Including Maturity Date, Rate of Interest, Par or Maturity Value

  

Current or Fair Value

  

Fidelity* Fund

     320,114  

shares

   $ 13,652,869  

Fidelity* Growth Company

     175,241  

shares

     21,007,903  

Fidelity* Intermediate Bond

     488,211  

shares

     5,287,329  

Fidelity* OTC Portfolio

     107,869  

shares

     8,347,985  

Fidelity* Diversified International

     251,496  

shares

     9,282,717  

Fidelity* Freedom Income

     180,505  

shares

     2,119,130  

Fidelity* Freedom 2000

     54,102  

shares

     672,493  

Fidelity* Freedom 2010

     393,455  

shares

     6,023,800  

Fidelity* Freedom 2020

     733,583  

shares

     11,451,225  

Fidelity* Freedom 2030

     695,212  

shares

     11,331,953  

Fidelity* Managed Income Portfolio Fund

     13,578,905  

shares

     13,786,713  

Fidelity* Freedom 2040

     559,797  

shares

     5,329,264  

Fidelity* Freedom 2005

     5,113  

shares

     60,586  

Fidelity* Freedom 2015

     60,615  

shares

     772,838  

Fidelity* Freedom 2025

     124,262  

shares

     1,655,172  

Fidelity* Freedom 2035

     70,308  

shares

     947,752  

Fidelity* Spartan Equity 500 Index

     77,729  

shares

     5,090,462  

Fidelity* Freedom 2045

     96,521  

shares

     1,058,832  

Fidelity* Freedom 2050

     48,766  

shares

     537,887  

Fidelity* Freedom 2055

     7,853  

shares

     91,175  

Rainier Small/Mid Cap Value Fund

     64,714  

shares

     3,097,213  

Dodge & Cox Stock Fund

     30,709  

shares

     5,185,886  

Goldman Sachs Mid Cap Value Class A Fund

     62,229  

shares

     2,743,047  

Lord Abbett Small Cap Value Fund

     302,847  

shares

     10,947,932  

Media General, Inc.* Common Stock Fund

     2,197,280  

shares

     49,658,528  

TOTAL INVESTMENTS

               190,140,691  

Interest Bearing Cash

     1,766,593  

units

     1,766,593  

Participant Loan Balances

     3% - 8 %       2,527,063  

TOTAL ASSETS

             $ 194,434,347  

 

* Party in interest to the Plan

** Historical cost is not required as all investments are participant directed

 

 
 

  

 EXHIBIT INDEX

 

TO

FORM 11-K FOR

MG ADVANTAGE 401(k) PLAN

 

Exhibit Number 

 Description of Exhibit 

23.1

Consent of Keiter

 

 Independent Registered Public Accounting  

 

 Firm, dated June 24, 2014 
   

     

 

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized.

 

    MG Advantage 401(k) Plan  
   

(the Plan Registrant)

  
       

 

 

 

 

 

 

 

 

 

By:

/s/ James F. Woodward     

 

 

 

James F. Woodward

 

 

 

Senior Vice President and Chief Financial Officer

 

       

 

Date:     June 24, 2014