LIN Finalizes Deal To Add Stations
LIN TV said it has completed its acquisition of stations in eight markets, including five in the top 100. The stations, which include 10 affiliated with the Big Four networks, were owned by New Vision.
The $342 million deal, including assuming $12 million in debt, includes LIN providing services to five stations owned by others.
CEO Vincent L. Sadusky stated that the acquisition, which gives LIN reach in about 11% of the country, “further advances our strategy to expand our national footprint and digital media business.”
The acquired stations are in markets as large as Portland, Ore. and small as Mason City, Iowa.
At an investor event earlier this week, Sadusky spoke about retransmission consent dollars as a growth engine, notably if stations are able to command rates more in line with viewership levels.
“Looking out into the future, I think if the industry continues to push for rates that are closer to ratings, I think that there is a lot of headway left,” Sadusky said.
LIN has looked to build its digital sales and its RMM unit there recently opened a New York sales operation. The company’s Los Angeles office is also looking to help grow branded entertainment sales opportunities. Jamie Elden, formerly of Alloy Media, joined LIN over the summer to head national sales for the RMM digital operations business.