PROVIDENCE – Local multimedia company LIN TV Corp. reported its second quarter 2010 results Thursday, citing a rebound in television advertising for its improved performance over last year.
LIN posted a profit of $25.1 million, or 7 cents per diluted share, in the three months ending June 30, compared with a net loss of $25.8 million, or 50 cents per diluted share, a year earlier. Revenue rose 21 percent to $99.5 million.
“Our results demonstrate continued, sustained improvement over 2009,” said LIN president and CEO Vincent L. Sadusky in a news release. “Television advertising has experienced a strong recovery and our digital business continues to grow and differentiate us as a local multimedia company.”
Providence-based LIN TV Corp also owns, operates or services 32 network-affiliated stations in 17 U.S. markets, including WPRI-TV CBS 12 in Rhode Island, and runs various station and niche websites and mobile platforms.
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Last fall, the company entered the digital marketing business by purchasing RM Media LLC. According to Sadusky, the digital segment now constitutes 15 percent of LIN TV’s total revenue.
Additional information available at www.linmedia.com.
