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UNITED STATES
SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

SCHEDULE 13G

Under the Securities Exchange Act of 1934
(Amendment No. 2)*

MEDIA GENERAL, INC.
(Name of Issuer)
Class A Common Stock
(Title of Class of Securities)
584404107
(CUSIP Number)
December 31, 2009
(Date of Event Which Requires Filing of this Statement)

Check the appropriate box to designate the rule pursuant to which this Schedule is filed:

     o Rule 13d-1(b)

     þ Rule 13d-1(c)

     o Rule 13d-1(d)

* The remainder of this cover page shall be filled out for a reporting person’s initial filing on this form with respect to the subject class of securities, and for any subsequent amendment containing information which would alter the disclosures provided in a prior cover page.

The information required in the remainder of this cover page shall not be deemed to be “filed” for the purpose of Section 18 of the Securities Exchange Act of 1934 (“Act”) or otherwise subject to the liabilities of that section of the Act but shall be subject to all other provisions of the Act (however, see the Notes).

 
 

 

                     
CUSIP No.
  
584404 10 7 
  

 

           
1   NAMES OF REPORTING PERSONS
Chou Associates Fund
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Ontario, Canada
       
  5   SOLE VOTING POWER
     
NUMBER OF   949,082
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   949,082
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  949,082
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  4.3%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  OO

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CUSIP No.
  
584404 10 7 
  

 

           
1   NAMES OF REPORTING PERSONS
Chou Associates Management Inc.
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Ontario, Canada
       
  5   SOLE VOTING POWER
     
NUMBER OF   949,082
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   949,082
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  949,082
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  4.3%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  CO

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CUSIP No.
  
584404 10 7 
  

 

           
1   NAMES OF REPORTING PERSONS
Francis S. M. Chou
     
     
2   CHECK THE APPROPRIATE BOX IF A MEMBER OF A GROUP (SEE INSTRUCTIONS)
  (a)   o
  (b)   þ
     
3   SEC USE ONLY
   
   
     
4   CITIZENSHIP OR PLACE OF ORGANIZATION
   
  Canada
       
  5   SOLE VOTING POWER
     
NUMBER OF   949,082
       
SHARES 6   SHARED VOTING POWER
BENEFICIALLY    
OWNED BY   0
       
EACH 7   SOLE DISPOSITIVE POWER
REPORTING    
PERSON   949,082
       
WITH: 8   SHARED DISPOSITIVE POWER
     
    0
     
9   AGGREGATE AMOUNT BENEFICIALLY OWNED BY EACH REPORTING PERSON
   
  949,082
     
10   CHECK IF THE AGGREGATE AMOUNT IN ROW (9) EXCLUDES CERTAIN SHARES (SEE INSTRUCTIONS)
   
  o
     
11   PERCENT OF CLASS REPRESENTED BY AMOUNT IN ROW (9)
   
  4.3%
     
12   TYPE OF REPORTING PERSON (SEE INSTRUCTIONS)
   
  IN

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CUSIP No.
  
584404 10 7 
  
Item 1.
  (a)  
Name of Issuer
 
     
MEDIA GENERAL, INC.
  (b)  
Address of Issuer’s Principal Executive Offices
333 E. Franklin St., Richmond, VA 23219
Item 2.
(a) Name of Person Filing
This statement is jointly filed by and on behalf of Chou Associates Fund, Chou Associates Management Inc., and Francis S. M. Chou. Chou Associates Management serves as the investment adviser to Chou Associates Fund, and may be deemed to beneficially own securities owned by Chou Associates Fund. Mr. Chou is the Chief Executive Officer and Portfolio Manager of Chou Associates Management and the Portfolio Manager of Chou Associates Fund, and may be deemed to beneficially own securities owned by each of Chou Associates Management and Chou Associates Fund.
Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, the beneficial owner of any securities covered by this statement.
  (b)  
Address of Principal Business Office or, if none, Residence
110 Sheppard Avenue East, Suite 301, Box 18, Toronto ON M2N 6Y8
  (c)  
Citizenship
See Item 4 on the cover page(s) hereto.
  (d)  
Title of Class of Securities
Class A Common Stock
  (e)  
CUSIP Number
584404 10 7
Item 3.  
If this statement is filed pursuant to §§240.13d-1(b) or 240.13d-2(b) or (c), check whether the person filing is:
         
(a)
  o   A Broker or dealer registered under Section 15 of the Act (15 U.S.C. 78o);
 
        
(b)
  o   A Bank as defined in Section 3(a)(6) of the Act (15 U.S.C. 78c);
 
        
(c)
  o   An insurance company as defined in Section 3(a)(19) of the Act (15 U.S.C. 78c);
 
        
(d)
  o   An investment company registered under Section 8 of the Investment Company Act of 1940 (15 U.S.C. 80a-8);
 
        
(e)
  o   An investment adviser in accordance with §240.13d-1(b)(1)(ii)(E);
 
        
(f)
  o   An employee benefit plan or endowment fund in accordance with §240.13d- 1(b)(1)(ii)(F);
 
        
(g)
  o   A parent holding company or control person in accordance with §240.13d-1(b)(1)(ii)(G);
 
        
(h)
  o   A savings associations as defined in Section 3(b) of the Federal Deposit Insurance Act (12 U.S.C. 1813);
 
        
(i)
  o   A church plan that is excluded from the definition of an investment company under Section 3(c)(14) of the Investment Company Act of 1940 (15 U.S.C. 80a-3);
 
        
(j)
  o   A group, in accordance with §240.13d-1(b)(1)(ii)(J).

 

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CUSIP No.
  
584404 10 7 
  
Item 4.  
Ownership.
  (a)  
Amount beneficially owned: See Item 9 on the cover page(s) hereto.
  (b)  
Percent of class: See Item 11 on the cover page(s) hereto.
  (c)  
Number of shares as to which such person has:
  (i)  
Sole power to vote or to direct the vote: See Item 5 on the cover page(s) hereto.
 
  (ii)  
Shared power to vote or to direct the vote: See Item 6 on the cover page(s) hereto.
 
  (iii)  
Sole power to dispose or to direct the disposition of: See Item 7 on the cover page(s) hereto.
 
  (iv)  
Shared power to dispose or to direct the disposition of: See Item 8 on the cover page(s) hereto.
Item 5.  
Ownership of Five Percent or Less of a Class
If this statement is being filed to report the fact that as of the date hereof the reporting person has ceased to be the beneficial owner of more than five percent of the class of securities, check the following þ.
Item 6.  
Ownership of More than Five Percent on Behalf of Another Person
Not Applicable
Item 7.  
Identification and Classification of the Subsidiary Which Acquired the Security Being Reported on by the Parent Holding Company or Control Person
Not Applicable
Item 8.  
Identification and Classification of Members of the Group
Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any group with respect to the issuer or any securities of the issuer.
Item 9.  
Notice of Dissolution of Group
Each reporting person may be deemed to be a member of a group with respect to the issuer or securities of the issuer for the purposes of Section 13(d) or 13(g) of the Act. Each reporting person declares that neither the filing of this statement nor anything herein shall be construed as an admission that such person is, for the purposes of Section 13(d) or 13(g) of the Act or any other purpose, (i) acting (or has agreed or is agreeing to act together with any other person) as a partnership, limited partnership, syndicate, or other group for the purpose of acquiring, holding, or disposing of securities of the issuer or otherwise with respect to the issuer or any securities of the issuer or (ii) a member of any group with respect to the issuer or any securities of the issuer.

 

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CUSIP No.
  
584404 10 7 
  
Item 10.  
Certifications
(a) Not Applicable
(b) By signing below I certify that, to the best of my knowledge and belief, the securities referred to above were not acquired and are not held for the purpose of or with the effect of changing or influencing the control of the issuer of the securities and were not acquired and are not held in connection with or as a participant in any transaction having that purpose or effect.

 

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CUSIP No.
  
584404 10 7 
  
SIGNATURE
After reasonable inquiry and to the best of my knowledge and belief, I certify that the information set forth in this statement is true, complete and correct.
         
  Chou Associates Fund
 		  
  By:   /s/ Francis Chou    
    Name:   Francis S. M. Chou   
    Title:   Portfolio Manager    
    Date:   February 11, 2010    
 
  Chou Associates Management Inc.
 		  
  By:   /s/ Francis Chou    
    Name:   Francis S. M. Chou   
    Title:   CEO and Portfolio Manager    
    Date:   February 11, 2010    
 
  Francis S. M. Chou
 		  
  By:   /s/ Francis Chou    
    Name:   Francis S. M. Chou   
    Date:   February 11, 2010    

 

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CUSIP No.
  
584404 10 7 
  
         
EXHIBIT INDEX
     
Exhibit   Description of Exhibit
99.9
 
Joint Filing Agreement (incorporated herein by reference from Exhibit 99.2 to the Schedule 13G relating to the common stock of the issuer filed December 20, 2007, by the reporting person(s) with the Securities and Exchange Commission)

 

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