8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT PURSUANT

TO SECTION 13 OR 15(D) OF THE

SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): March 24, 2005

MORRIS PUBLISHING GROUP, LLC

(Exact name of registrant as specified in its charter)

Georgia

(State or other jurisdiction of incorporation)

333-112246	58-1445060
(Commission File Number)	(IRS Employer Identification No.)
725 Broad Street; Augusta, Georgia	30901
(Address of principal executive offices)	(Zip Code)

(706) 724-0851

(Registrants’ telephone number, including area code)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the Registrant under any of the following provisions:

¨ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

¨ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

¨ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

¨ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Item 2.02. Results of Operations and Financial Condition.

On March 24, 2005, Morris Publishing Group, LLC issued a press release announcing its financial results for the three months and twelve months ended December 31, 2004. A copy of Morris Publishing’s press release is furnished as Exhibit 99.1 and is incorporated herein by reference.

Item 9.01. Financial Statements and Exhibits.

(c) Exhibits:

Exhibit No.	Description
99.1	Press Release of Morris Publishing Group, LLC, dated March 24, 2005, reporting Morris Publishing’s financial results for the three months and twelve months ended December 31, 2004.

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SIGNATURES

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

	MORRIS PUBLISHING GROUP, LLC
Date: March 24, 2005	/s/ Steve K. Stone
	Steve K. Stone Senior Vice President and Chief Financial Officer

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EX-99.1

Exhibit 99.1

MORRIS PUBLISHING ANNOUNCES

2004 FOURTH QUARTER AND YEAR END RESULTS

AUGUSTA, Ga. (March 24, 2005) — Morris Publishing Group, LLC today reported fourth quarter EBITDA (net income before net interest expense, including amortization of debt issuance costs, provision for income taxes, depreciation and amortization expense) of $29.2 million, up 17.3% from $24.9 million last year. For the year, EBITDA was $102.1 million, up 2.1% from $100.0 million in 2003.

Total operating revenue for the fourth quarter was $119.9 million, up 3.8% from $115.5 million in 2003, with total advertising revenue of $98.0 million, up 5.4%, and circulation revenue of $17.5 million, down 2.6%. Classified, retail and national advertising revenue categories were up 7.3%, 4.2% and 6.4%, respectively. Total operating cost for the quarter remained flat. Operating income was $23.8 million, up 22.7% from $19.4 million in the fourth quarter 2003.

For the year, total operating revenue was $455.7 million, up 3.9% from $438.4 million in 2003. Total advertising revenue for the year was $367.6 million, up 5.4%, while circulation revenue was $70.2 million, down 1.8%.

Total operating cost for 2004 was $374.2 million, up 4.3% from $358.8 million in 2003, with employee cost of $177.9 million, up 3.3%, newsprint cost of $45.4 million, up 9.7%, and all other operating cost of $150.9 million, up 8.4%. Operating income was $81.5 million, up 2.5% from $79.6 million in 2003.

Commenting on the results, Morris Publishing Group’s CEO and President William S. Morris IV said, “We are pleased with our fourth quarter results and, all together, the year 2004 was a strong one for the company. While our fourth quarter advertising revenues, particularly in retail advertising, were less than expected, our 5.4% year over year increase was solid compared to our modest 1.7% growth last year.”

The Company believes that EBITDA, a non-GAAP financial measure, is a useful metric for evaluating its financial performance because of its focus on the Company’s results from operations before depreciation and amortization. EBITDA is a common alternative measure of performance used by investors, financial analysts and rating agencies. These groups use EBITDA, along with other measures, to estimate the value of a company and evaluate a company’s ability to meet its debt service. Information concerning EBITDA is included in the exhibits to this release.

Certain statements contained in this report are forward-looking. They are based on management’s current knowledge of factors affecting Morris Publishing Group’s business. Actual results could differ materially from those currently anticipated, depending upon – but not limited to – the effects of interest rates, of national and local economies on revenue, of the evolution of the Internet, of unforeseen changes in the price of newsprint and other significant events that could affect the economy.

Morris Publishing Group, LLC is a wholly owned subsidiary of Morris Communications Company, LLC, a privately held media company based in Augusta, Ga. Morris Publishing was formed in 2001 and assumed the operations of the newspaper business segment of its parent, Morris Communications. Morris Publishing publishes 26 daily and 12 non-daily newspapers, 4 city magazines and numerous other free community publications across the United States.

A conference call will be held Thursday, March 24, 2005, at 10:30 a.m. Eastern Standard Time. The dial-in number is 1-800-210-9006. Please ask for the Morris Publishing Group conference call. This press release is available on our Web site www.morris.com. The contents of the call will be available for replay for 30 days at the following site entry link: https://cis.premconf.com/sc/scw.dll/?cid=vlllrswndcdvsndrz.

For further information, please contact:

Craig Mitchell

Senior Vice President of Finance

Morris Communications Company, LLC

706-823-3236

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Fourth quarter and year to date results follow:

Morris Publishing Group, LLC

Condensed Consolidated Statements of Income

(Dollars in thousands)	Three Months Ended December 31,						Twelve Months Ended December 31,
	2004			2003			2004			2003
OPERATING REVENUES:
Advertising	$	97,951		$	92,909		$	367,560		$	348,798
Circulation		17,547			18,015			70,197			71,519
Other		4,408			4,564			17,977			18,093
Total operating revenue		119,907			115,488			455,734			438,410
OPERATING EXPENSES:
Labor and employee benefits		44,520			44,898			177,905			172,261
Newsprint, ink and supplements		13,960			12,992			53,848			50,608
Other operating costs (excluding depreciation and amortization)		32,131			32,807			121,353			115,434
Depreciation and amortization		5,497			5,389			21,097			20,535
Total operating expenses		96,108			96,086			374,203			358,838
Operating income		23,799			19,402			81,531			79,572
OTHER EXPENSE:
Interest expense, including amortization of debt issuance costs		8,295			7,924			32,281			26,088
Loss on extinguishment of debt		—			—			—			5,957
Interest income		(285	)		(98	)		(1,249	)		(122	)
Other, net		57			(133	)		497			63
Total other expense		8,067			7,693			31,529			31,986
INCOME BEFORE INCOME TAXES		15,731			11,709			50,002			47,586
PROVISION FOR INCOME TAXES		6,192			4,941			19,694			18,744
NET INCOME	$	9,539		$	6,768		$	30,308		$	28,842

The following table reconciles net income to EBITDA:

(Dollars in thousands)	Three Months Ended Deember 31,						Twelve Months Ended December 31,
	2004			2003			2004			2003
NET INCOME	$	9,539		$	6,768		$	30,308		$	28,842
Add:
Interest expense, including amortization of debt issuance costs		8,295			7,924			32,281			26,088
Interest income		(285	)		(98	)		(1,249	)		(122	)
Provision for income taxes		6,192			4,941			19,694			18,744
Loss from Extinguishment of Debt		—			—			—			5,957
Depreciation and amortization		5,497			5,389			21,097			20,535
EBITDA	$	29,239		$	24,924		$	102,131		$	100,044

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