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LIN Revenue Up 37% in Quarter - Broadcasting & Cable

LIN Revenue Up 37% in Quarter

Core time sales up 30%, but Sadusky says ad market off to a slow start
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LIN Media reported net revenue in the first quarter of $141 million, up 37% from the same quarter last year. Local revenues, which include retransmission fees, increased 47% while national revenues grew 28%.

LIN's interactive revenues increased 29% to $9 million in the quarter. Net political revenues were $0.5 million, compared to $2.9 million during the first quarter of 2012.

Core local and national time sales combined increased 30% in the first quarter of 2013.

"After achieving record results last year, ad revenue is off to a slower start in 2013," said Vincent Sadusky, president and CEO. "However, retransmission revenues and the continued growth and contribution of our digital business more than offset declines. We are excited about our two recent acquisitions of HYFN and Dedicated Media and their ability to drive synergies and expand our unique portfolio of digital marketing services."

The broadcaster expects that net revenues for the second quarter of 2013 will increase in the range of 36% to 39% ($43 million to $47 million). On a same station basis, LIN forecasts that net revenues will be flat to up 1% compared to the second quarter of 2012.

In October, LIN closed on its $330 million acquisition of the New Vision Television stations.

LIN operates or services 43 television stations and seven digital channels in 23 U.S. markets.

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