LIN Revenue Up 36% in Q3

Sees even rosier revenue picture for fourth quarter

By Michael Malone -- Broadcasting & Cable, 11/8/2012 11:00:03 AM

LIN Media announced third-quarter revenue of $133.1 million, up 36% from the same quarter last year. Political advertising drove the strong numbers, while LIN's core revenue increased 6% in the quarter.

Local revenues, which include retransmission consent fees, were up 17%, while national revenues gained 11%. LIN's interactive revenues climbed 60% to $10.9 million in the quarter.

"LIN Media delivered another impressive quarter of financial results reflecting strong growth in all major revenue streams, which contributed to the highest third quarter revenue and EBITDA in our history as a public company," said Vincent L. Sadusky, president and CEO. "Looking forward, our long-term strategy and the increased demand for our innovative multimedia advertising solutions position us well for the remainder of 2012 and beyond."

LIN expects that net revenues for the fourth quarter of 2012 will increase in the range of 70% to 74% ($77.5 million-$82.5 million), compared to the fourth quarter of 2011.

The Providence-based broadcaster closed on its acquisition of the New Vision stations for $330 million October 12, and Sadusky has been visiting the new acquisitions around the country.