LIN Revenue Up 21% in Second Quarter

Whopping 51% automotive ad boost drives business
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LIN TV reported net revenues of $99.5 million in the second quarter, a 21% improvement on the same quarter a year ago. Digital revenues, which include web advertising and retransmission consent money, climbed 44% to $14.7 million. Political represented $5.3 million in the quarter, with much more to come in the third quarter.

"Our results demonstrate continued, sustained improvement over 2009," said LIN President/CEO Vincent L. Sadusky. "Television advertising has experienced a strong recovery and our digital business, which now constitutes 15% of our total revenues, continues to grow and differentiate us as a local multimedia company."

Core local and national ad sales, not including political, were up 13%. Automotive ads grew 51% in the quarter for Providence-based LIN.

Earlier this week, Gannett reported revenue up 20% in the second quarter, and Media General had revenue increasing 13%.

LIN forecasts a booming third quarter, thanks in large part to the blockbuster election season around the corner, and comparisons to last year's weak second half.

"Based on current sales order pacings, the company expects that third quarter 2010 net revenues will increase in the range of 24% to 33% (or $19.7 million to $27.0 million)," said LIN, "compared to net revenues of $81.4 million for the third quarter of 2009."

LIN owns, operates or services 32 stations, including WISH Indianapolis and KASA Albuquerque.

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