• by David Goetzl  @dgoetzl, June 30, 2010

Acme Communications CEO Doug Gealy said Wednesday a recent deal with LIN TV should make potential buyers of Acme stations "now realize we're serious" as far as selling.

Acme, which announced an arrangement with LIN to help run four of its stations in June, has been trying to sell itself for up to five years. The LIN deal has options for LIN to buy any or all of the stations.

In the first quarter, Acme's struggles continued as it posted a revenue decline, even as the local station business has been on an upswing.

LIN's agreement includes oversight of sales for Acme's CW affiliates in Dayton, Ohio and Green Bay, Wisc. And it will gain control of other functions, though not sales, for two Albuquerque stations.

LIN gains versions of duopolies in Dayton and Green Bay, where it already owns stations affiliated with Big Four networks. And some involvement with the CBS, Fox, CW and MyNetworkTV stations in New Mexico's largest market.

All but one of Acme's six stations are CW affiliates. Part of its sales pitch is that a buyer could make an acquisition and create a duopoly. An analysis of the LIN deal showed that a duopoly where a CW station is combined with a Big Four affiliate can provide "exponential cash flow" that "makes a lot of sense at the right price," Gealy said on a conference call.

Gealy said if the economic recovery trickles down to younger viewers who are the CW's target demo, it "should make our stations very hot."

In the first quarter, Acme's net revenues dropped to $6.1 million from $6.5 million. It posted a net loss of $1.9 million, greater than in the same period a year ago.

Acme distributes a syndicated lifestyle show "The Daily Buzz." It has a three-year agreement for Fisher Communications to manage the show, carried by about 160 stations. The deal gives Fisher options to purchase the show.

Fisher could start by purchasing half for over $1 million.