LIN Media reported first quarter revenue of $166.2 million, up 18% from the same quarter a year before. Local revenues, which include local advertising, retransmission consent and website revenues, increased 9% to $108.1 million. Net national revenues increased 2% to $30 million.
Digital revenues, which include revenues from LIN Digital, LIN Mobile, Nami Media, Dedicated Media, HYFN and Federated Media Publishing, increased 171% to $24.5 million in the quarter. LIN acquired Federated Media in February and acquired a majority interest in both Dedicated Media and HYFN in April 2013.
LIN announced a merger with Media General in March.
“We posted solid results, increasing net revenues 8% over the prior year, on a comparable basis excluding our three recent digital acquisitions,” said Vincent Sadusky, president and CEO. “Our results were driven by an increase in television advertising, higher pay-television subscriber fees and significant growth in digital revenues, which now comprise 15% of our net revenues and has its own reportable segment.”
Winter Olympics and the Super Bowl also helped LIN’s revenue picture, said Sadusky.
LIN expects that net revenues for the second quarter will increase in the range of 13% to 16%.