SECURITIES AND EXCHANGE COMMISSION

Washington, DC 20549

SCHEDULE 13D

(Rule 13d-101)

INFORMATION TO BE INCLUDED IN STATEMENTS FILED PURSUANT

TO RULE 13d-1(a) AND AMENDMENTS THERETO FILED

PURSUANT TO RULE 13d-2(a)

(Name of Issuer)

(Title of Class of Securities)

(CUSIP Number)

(Name, Address and Telephone Number of Person Authorized to Receive Notices and Communications)

(Date of Event Which Requires Filing of this Statement)

If the person has previously filed a statement on Schedule 13G to report the acquisition that is the subject of this Schedule 13D, and is filing this schedule because of Rule 13d-1(e), 13d-1(f) or 13d-1(g), check the following box.  ¨

Note. Schedules filed in paper format shall include a signed original and five copies of the schedule, including all exhibits. See Rule 13d-7 for other parties to whom copies are to be sent.

The information required on 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 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).

SCHEDULE 13D

SCHEDULE 13D

This statement on Schedule 13D (this “Schedule 13D”) relates to the Class A Common Stock, par value $5.00 per share (“Class A Common Stock”), of Media General, Inc., a Virginia corporation (“MEG”).

The address of the principal executive offices of MEG is 333 E. Franklin Street, Richmond, Virginia, 23219.

In connection with the transactions described below in Item 4 (the answer to which is incorporated herein by reference), on May 24, 2012, MEG issued to Berkshire warrants (the “Warrants”) to buy 4,646,220 shares of Class A Common Stock of MEG. By virtue of issuance of the Warrants, Berkshire acquired beneficial ownership, as defined in Rule 13d-3 promulgated under the Securities and Exchange Act of 1934, as amended, of 4,646,220 shares of Class A Common Stock of MEG. Berkshire intends to use internally generated funds to fund the exercise of the Warrants. No borrowed funds would be involved.

The Warrants to buy 4,646,220 shares of Class A Common Stock of MEG were issued pursuant to the terms of that certain Warrant Agreement (“Warrant Agreement”), dated as of May 24, 2012, by and between MEG and Berkshire, in connection with the transactions contemplated by a credit agreement (the “Credit Agreement”), dated as of May 17, 2012, among MEG, as the borrower, BH Finance, LLC (a Berkshire subsidiary), as administrative agent and a lender, and the other lenders party thereto, and an asset purchase agreement (the “Asset Purchase Agreement”), dated as of May 17, 2012, by and among MEG, Media General Operations, Inc. (a MEG subsidiary), Media General Communications Holdings, LLC (a MEG subsidiary), and World Media Enterprises Inc. (a Berkshire subsidiary). On May 24, 2012, pursuant to the terms and conditions of the Credit Agreement, BH Finance, LLC and the other lenders party thereto funded a term loan of $400 million in principal amount to MEG. The issuance of the Warrants was a condition to the funding of the loan, and is a condition to the transactions contemplated by the Asset Purchase Agreement, including the payment of $142 million in cash to MEG and certain affiliates of MEG

for certain newspaper assets held by them. Berkshire used and intends to use cash available in the businesses of Berkshire and certain of its subsidiaries to fund the transactions contemplated by the Credit Agreement and Asset Purchase Agreement. No borrowed funds were or are involved.

Also on May 24, 2012, Berkshire entered into a registration rights agreement (the “Registration Agreement”) with MEG providing Berkshire with certain registration rights in respect of the shares of Class A Common Stock underlying the Warrants, and a shareholders agreement (the “Shareholders Agreement”) with MEG, the D. Tennant Bryan Media Trust and J. Stewart Bryan III (the “Shareholder”). The Shareholders Agreement entitles Berkshire to nominate one director to the board of directors of MEG, commencing with the first annual shareholder meeting for the general election of directors following May 24, 2012, and to have appointed an interim director before such election. The Shareholders Agreement also obligates the Shareholder to, among other things, vote for Berkshire’s nominee.

The Warrants entitle Berkshire to receive, upon proper exercise and subject to the terms and conditions of the Warrant Agreement, 4,646,220 shares of Class A Common Stock of MEG, representing approximately 16.9% of the aggregate issued and outstanding Class A Common Stock of MEG (see Item 5). The Warrants are currently exercisable through May 24, 2020 at an exercise price per share of $0.01.

Berkshire currently intends to exercise its right to have an interim director designated by Berkshire appointed to the board of directors of MEG, or in the alternative to have a nominee of Berkshire included as a nominee for the MEG board of directors in the next annual proxy statement of MEG. Berkshire also currently intends to exercise the Warrants following the closing under the Asset Purchase Agreement. In addition, Berkshire or entities within the Berkshire group of companies may determine to acquire additional shares of Class A Common Stock or other securities of MEG, depending upon the performance of the Class A Common Stock in the market, market and general economic conditions, evaluation of alternative investments, price, availability of funds, and other factors, or may determine from time to time to sell some or all of its or their securities of MEG, based upon the same set of factors.

The foregoing description of the Warrant Agreement, Credit Agreement, Asset Purchase Agreement, Registration Rights Agreement, and Shareholders Agreement (the “Agreements”) does not purport to be complete and is subject, and qualified in its entirety by reference, to the full text of the Agreements, which are filed herewith as Exhibits.

The following disclosures are based 22,799,273 shares of the Class A Common Stock outstanding as of April 29, 2012, as reported by MEG in its Quarterly Report on Form 10-Q, filed with the Securities Exchange Commission on May 3, 2012.

Other than as described in Items 3 and 4 (the answers to which are incorporated herein by reference), to the best knowledge of the filing persons, there are no contracts, agreements, understandings or relationships (legal or otherwise) between the persons or entities listed in Item 2 and any person or entity with respect to any securities of the Issuer, including but not limited to transfer or voting of any of the securities, finder’s fees, joint ventures, loan or option arrangements, puts or calls, guarantees of profits, division of profits or loss, or the giving or withholding of proxies.

SIGNATURE

After reasonable inquiry and to the best of the knowledge and belief of the undersigned, the information set forth in this statement is true, complete and correct.

Dated: June 4, 2012

EXHIBIT A

CERTAIN INFORMATION ABOUT THE REPORTING PERSONS

AND THE EXECUTIVE OFFICERS AND DIRECTORS OF THE REPORTING PERSONS

Set forth below is information about (i) the name, state of organization, principal business, and the address of the principal office of Mr. Buffett and (ii) the name and title of each other executive officer and director of Berkshire, his or her business address, and his or her present principal occupation or employment, and the name, principal business, and address of any corporation or other organization in which such employment is conducted. Each natural person listed below is a citizen of the United States.

Berkshire Hathaway Inc.

The executive officers of Berkshire are Warren E. Buffett, Chairman and Chief Executive Officer, Charles T. Munger, Vice Chairman, and Marc D. Hamburg, Senior Vice President and Chief Financial Officer. The directors of Berkshire are Warren E. Buffett, Charles T. Munger, Howard G. Buffett, Stephen B. Burke, Susan L. Decker, William H. Gates, III, David S. Gottesman, Charlotte Guyman, Donald R. Keough, Thomas S. Murphy, Ronald L. Olson, and Walter Scott, Jr.

EXHIBIT 1

AGREEMENT TO FILE SCHEDULE 13D JOINTLY

(as required by Item 7 of Schedule 13D)

The undersigned persons hereby agree that reports on Schedule 13D, and any amendments thereto, may be filed in a single statement on behalf of all such persons, and further, each such person designates Marc D. Hamburg as its or his agent and attorney-in-fact for the purpose of executing any and all such reports required to be made by it or him with the Securities and Exchange Commission.

Dated: June 4, 2012