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LIN Revenue Up 5% in Q2 - Broadcasting & Cable

LIN Revenue Up 5% in Q2

Booming digital biz makes up for decrease in political spots
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LIN TV reported second quarter revenue of $104.1 million, a 5% boost over the same quarter a year ago. While several station groups saw a decline in second quarter revenue, due to being up against last year's huge political spending, LIN's digital revenues, including internet advertising and retrans fees, pushed the company into the positive numbers.

Digital revenues increased by 50% to $22 million in the quarter.

"Our growth in digital is a result of our interactive strategy and ability to secure higher retransmission fees from pay television service providers, which offset the slow economic recovery and auto supply issues," said Vincent Sadusky, president and CEO of LIN.

LIN stations were ranked number one or number two in their markets at 77% of its ABC, CBS, FOX and NBC news stations, said LIN, based on viewership in what it calls key demos.

Core local and national advertising sales combined, which excludes political advertising sales, was flat at $89.1 million, compared to the second quarter of 2010. Automotive spending was down 8%, while restaurant ads were up 11%.

LIN forecasts third quarter net revenues will decrease by mid-single digits, based largely on a decline of around $9 million in net political revenue.

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