It appears that MG changed their reporting period from the last Sunday in December to Dec 31. This added an extra week as Sunday was on Dec 25 in 2011. This affects the numbers in a positive way causing the numbers to look better than they really are.
I expect their 1st quarter guidance, which we haven't seen yet, to be around -8%. I think all the good is in this stock right now. I think over the next few weeks we go back into the mid 3's. With their increased interest expense, increased network comp, tougher comps on retrans, loss of 6.2 million in political and loss of 1.5 million in Super Bowl, I think there is a reason why you don't see their guidance yet.
By the way, 1st quarter accross the industry, not counting political, is pacing negative. There is some really nice shorting opportunities coming our way here.