LIN Trims Revenue Guidance for Q3

Oct 5, 2004  •  Post A Comment

LIN TV Corp. on Tuesday revised downward its revenue growth projections for the third quarter, citing weaker-than-expected political and automotive advertising as well as the impact of a string of hurricanes on the company’s stations in Puerto Rico.

The Providence, R.I.-based owner of 23 network-affiliated TV stations said it expects third-quarter revenue percentage growth in the high single digits. In July, the company forecasted that revenue would rise by a percentage in the mid-teens.

The company reports on its third-quarter results on Oct. 28.

LIN is the latest in a growing number of station groups reducing their revenue growth estimates in the third quarter. The culprit has been a pullback in political advertising spending as well as a reduction in automotive advertising brought on by a slowdown in car and light-truck sales.