LIN, TWC Agree On Retrans Deal
By Michael Malone -- Broadcasting & Cable, 11/2/2008 7:00:00 PM
Time Warner Cable and LIN TV last week came to terms on retransmission consent rights after a four week-long battle. The pact brings LIN programming back to 12 stations and 1.5 million subscribers. Terms of the agreement weren't disclosed. The LIN signal went dark when its contract with TWC expired Oct. 2.
Separately LIN TV's net revenue for the third quarter was $98.8 million, up 5% from the same quarter in 2007. Operating income in the third quarter was $24.5 million, a 39% increase over operating income in the same quarter of 2007. But local ad sales, excluding political advertising, was down 15%. Reflecting the importance of retransmission fees, LIN's climbed 91% in the third quarter.
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