LIN Revenue Up 27%
Digital business keeping LIN ahead of pack
Michael Malone -- Broadcasting & Cable, 10/28/2010 10:56:24 AM
LIN Media reported third quarter television revenue of $103.6 million, a 27% increase from the same quarter a year ago.
Digital revenues, including retransmission consent fees, grew 54% to $16 million. Core local and national advertising, not including political ads, was up 13% in the quarter.
LIN has booked $12.5 million worth of political revenue in the third quarter.
"We delivered strong third quarter results, despite a late start to the political season and continued economic uncertainty," said LIN President/CEO Vincent Sadusky. "Our digital business grew more than 50% in both revenue and user engagement compared to prior year, and continues to be a significant source of growth and opportunity."
LIN expects fourth quarter net revenue to increase between 16% and 22%, compared to the previous year's fourth quarter.
The Providence-based company owns, operates or services 32 TV stations, including WPRI Providence and WISH Indianapolis.
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