LIN Media to buy network affiliates from New Vision

LIN TELEVISION Corp. entered into a definitive agreement to purchase broadcast and other assets for 13 network affiliates from New Vision Television, a deal that will raise LIN's coverage area from 7.3 percent to 10.6 percent. For a larger version of this map, click HERE.
Posted 5/7/12

PROVIDENCE – LIN Television Corp., subsidiary of local multimedia company LIN TV Corp., entered into a definitive agreement to purchase broadcast and other assets for 13 network affiliates from New Vision Television, the company announced Monday.

As part of the agreement, which includes 10 stations affiliated with ABC, CBS, FOX or NBC, LIN Media will pay New Vision $330.4 million and assume $12 million in debt.

“This is a terrific opportunity to strengthen our mid size-market station portfolio in an accretive manner and will provide new markets to expand our digital businesses,” company President and Chief Executive Officer Vincent L. Sadusky said in prepared remarks, adding that the new affiliates will add geographic diversity to LIN Media’s profile.

The New Vision Television network affiliates are located in Portland, Ore., Birmingham, Ala., Wichita, Kan., Honolulu, Hawaii, Savannah, Ga., Youngstown, Ohio, Topeka, Kan. and Mason City, Iowa.

After the New Vision agreement goes into effect, LIN’s reach will jump from 7.3 percent of U.S. television households to 10.6 percent.

“The deal is structured and financed in a way that preserves our financial flexibility and allows us to capitalize on significant synergies, as well as leverage our technical capabilities, corporate infrastructure and interactive growth platforms to benefit both our viewers and advertisers,” said Sadusky.

LIN Media expects the deal to close in late 2012, pending regulatory approval.

PBN Hosted

Join PBN for the best networking event and party of the winter - January 15, 2015 - the Book of Lists Party at the Providence Public Library. Reserve your spot early!
  • Best Places to Work
    Enrollment is now open for the 7th annual Best Places to Work program. Winners w ...
  • Manufacturing Awards
    Applications are now being accepted for the 2nd Annual Manufacturing Awards. Dea ...
Purchase Data
Book of Lists
Book of Lists cover
PBN's annual Book of Lists has been an essential resource for the local business community for almost 30 years. The Book of Lists features a wealth of company rankings from a variety of fields and industries, including banking, health care, real estate, law, hospitality, education, not-for-profits, technology and many more.
Data icons
Data can be purchased as single lists, in either Excel or PDF format; the entire database of the published book, in Excel format; or a printed copy of the Book of Lists.
  • Purchase an e-File of a single list
  • Purchase an e-File of the entire Book of Lists database
  • Purchase a printed copy of the Book of Lists
    Latest News