LIN TV Corp. Buys Two UPN Stations

Feb 9, 2005  •  Post A Comment

LIN TV Corp. signed a definitive agreement Wednesday to purchase two UPN-affiliated television stations from Viacom for $85 million, as LIN continues to move ahead with its strategy to create duopolies in its markets.

Separately, LIN reported that it swung to a profit for the fourth quarter, lifted by strong political advertising revenue.

LIN’s purchase of WNDY-TV in Indianapolis and WWHO-TV in Columbus, Ohio, is part of an effort by the company to consolidate its stations around certain cities. The company already owns CBS affiliate WISH-TV and Univision affiliate WIIH-TV, both in Indianapolis. The company owns two or more stations in eight markets.

The sale is also an indication that Viacom is beginning to whittle down the number of stations it owns.

Meanwhile, LIN also reported fourth-quarter and full-year 2004 results, with the company swinging to a fourth-quarter profit of $62.2 million, versus a year-earlier loss of $44.2 million. Revenue advanced 13 percent to $107.7 million, largely the result of strong political spending. For the year, LIN posted a profit of $93 million, compared with a year-earlier loss of $90.4 million. Revenue rose 10 percent to $374.8 million.