ACME Communications And LIN Media Announce Shared Services Arrangement In The Albuquerque-Santa Fe, Dayton, And Green Bay-Appleton Markets

SANTA ANA, Calif., June 4, 2010 (GLOBE NEWSWIRE) -- ACME Communications, Inc. (Pink Sheets:ACME) today announced that the Company and LIN TV Corp. ("LIN Media") (NYSE:TVL) have entered into shared services and related agreements for ACME's television stations KWBQ-TV and KASY-TV in Albuquerque-Santa Fe, NM; WBDT-TV in Dayton, OH; and WIWB-TV in Green Bay-Appleton, WI.

Under the terms of the agreements, LIN Media will provide technical, engineering, promotional, administrative and other operational support services from its stations KRQE-TV and KASA-TV in the Albuquerque-Santa Fe market, WDTN-TV in the Dayton market, and WLUK-TV in the Green Bay-Appleton market. In addition, LIN Media will provide advertising sales services under a joint sales agreement for the ACME stations in the Dayton and Green Bay-Appleton markets. The agreements are expected to provide operating synergies and expense savings to both parties in each of the markets.

In making the announcement, Doug Gealy, President and Chief Operating Officer of ACME said, "This transaction reflects our commitment to maximizing the value of our stations to the benefit of our shareholders. This alliance will allow us to substantially reduce our operating costs and potentially extract new revenues while strengthening our ability to serve our audiences in each of these markets. We see this transaction as a model for our other two stations in Knoxville and Madison and intend to pursue separate but similar opportunities in those markets."

Vincent L. Sadusky, President and Chief Executive Officer of LIN Media, added, "This arrangement leverages LIN Media's core strengths in operating leading local multimedia platforms and allows both parties to enjoy the benefits of greater economies of scale."

The shared services and joint sales agreements have three year terms and are expected to commence on or about July 1, 2010. In addition, the companies have entered into a concurrent option agreement giving LIN Media the option to acquire any or all of the stations. ACME has the right, starting in the 31 ^st month of the term, to put any or all of the stations to LIN Media. Both LIN's option and ACME's put rights are subject to regulatory approvals and certain other terms and conditions.

The LIN Media transaction and the recently announced licensing and consulting agreement with Fisher Communications ("Fisher") (Nasdaq:FSCI) regarding ACME's subsidiary, The Daily Buzz, LLC – which also included an option agreement for Fisher to acquire an interest in The Daily Buzz - reflects the Company's continued focus on reducing costs to further improve its operating outlook, while seeking the most beneficial sale options for its assets.