PROVIDENCE – LIN TV Corp. (NYSE: TVL) today reported net income for its second quarter of $3.5 million on revenue of $103.3 million. The profit for the period compares with a $244.4 million loss for the same 2006 period, which was caused in large part by charges of $333.6 million for impairment of intangible assets and broadcast licenses and $6.9 million for severance for the company’s former CEO that the company took last year. Excluding those charges, operating income for the period ended June 30 fell 3 percent to $23.3 million, according to the company, a decrease it attributed to less political advertising in the current off-election year.
LIN TV President and CEO Vincent L. Sadusky said he was pleased with the quarter’s performance.
“Underscoring our focus on localism, our station brands and news programs once again performed well in the second quarter,” he said in a release, “with many of our stations dominating the May 2007 Nielsen ratings in their local markets, as well as significantly advancing our local Web site businesses.”
Some key points the company’s press release made about its operations in the quarter included:
•The company’s stations ranked No. 1 or No. 2 in 82 percent of its markets during weekdays from sign-on to sign-off.
•WTNH-TV (New Haven, Conn.) and WISH-TV (Indianapolis) were two out of only four local stations in the country to receive George Foster Peabody Awards.
•Local advertising revenue, excluding political advertising revenue, increased 3 percent in the second quarter of 2007 and 5 percent for the six months ended June 30.
•Total page views for the company’s stations’ Web sites were 98.2 million in the second quarter of 2007, compared with 73.6 million in the second quarter of 2006, representing a 33.4-percent increase.
LIN TV Corp. (NYSE: TVL), based in Providence, owns or operates 29 television stations and Web sites in 17 mid-sized markets. To learn more, visit www.lintv.com.
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