LIN Fourth Quarter Revenue Down 8%

Broadcaster produced 1,350 more local programming hours in 2011
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LIN Media reported net revenues of $111.5 million in the fourth quarter, down 8% from the same quarter a year before. Excluding net political advertising, revenues increased 11% to $108.5 million in the quarter.

Local revenues, which include retransmission consent fees and TV station website revenues, increased 12%. National revenues decreased by 2% in the fourth quarter.

Net political revenues were $3 million for LIN, compared to $23.8 million in the fourth quarter of 2010.

Interactive revenues, which includes revenues from RMM, the company's online advertising and media services business, and Nami Media, LIN's digital advertising management and technology company, increased by 54% to $8.4 million.

"We had a strong fourth quarter finish to a year marked by many successes, including record interactive results and the best odd-year EBITDA and EBITDA margin in nearly a decade," said Vincent Sadusky, LIN president and CEO. "We achieved these results despite persistent economic weakness and while continuing to invest in our growth platforms. Looking ahead, we are optimistic about further economic recovery and its positive impact on TV advertising in 2012."

The automotive category, which represented 25% of local and national advertising sales in the fourth quarter of 2011, increased by 12%.

For the full 2011, net revenues decreased by 2% to $400 million, compared to full 2010.

LIN produced approximately 1,350 more local programming hours during 2011, compared to 2010.

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