LIN TV Posts $10.3 Million Q1 Loss

Apr 28, 2005  •  Post A Comment

LIN TV on Thursday swung to a loss in the first quarter due to lower revenues in the period as well as a $12.3 million charge related to the paying down of debt.

The Providence, R.I.-based owner of 25 television stations posted a loss of $10.3 million versus a year-ago profit of $1.4 million. Revenue in the period fell 2 percent to $78.4 million.

Despite weaker revenue numbers, LIN officials said they are confident about 2005 thanks to several new revenue-generating initiatives, including its effort to tap into the Spanish-language market with WAPA-America, a cable network that targets Puerto Ricans living in the continental United States, and the company’s plans to generate advertising on its TV station Web sites.