LIN Television To Shop Stations
By John Eggerton -- Broadcasting & Cable, 5/18/2007 11:19:00 AM
LIN Television is gearing up to shop its TV stations.
LIN Television has hired J.P. Morgan to possibly shop its stations, saying in a statement that it was "exploring strategic alternatives" including a possible sale of the Company, but no decision had yet been made to sell the stations.
LIN announced last week that it had made $20.7 million in the first quarter of 2007 as compared to a loss of $4.3 million for the same quarter of 2006 . It attributed the turn-around to gains on the sale of its Puerto Rico stations, along with added new business revenues and cost cutting. Its net revenues were up 3% in part because of its purchase of Fox affiliate KASA-TV Albuquerque.
That comes on the heels of news that Nexstar was similarly situating itself for a possible buy-out .
LIN owns or operates 29 television stations and websites reaching 9.25% of country.
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