LIN Media Announces Agreement To Purchase Network Affiliates From New Vision Television
LIN Television currently reaches 7.3% of U.S. television households and is affiliated with all major networks. Pro forma for the New Vision Television transaction, the Company will operate or service 50 network affiliates in 23 markets, reaching 10.6% of U.S. television households.
On May 9, 2012, at 9:00 AM (EST), the Company will discuss the acquisition of New Vision Television’s assets during its regularly scheduled first quarter 2012 earnings call. To participate in the call, please dial 1-877-719-9789 for U.S. callers and 1-719-325-4763 for international callers. The call-in pass code is 8449814.
This press release includes statements that constitute "forward-looking statements," including statements regarding our future plans and operations. Forward-looking statements inherently involve risks and uncertainties, including, among other factors, general economic conditions, demand for advertising, competition for audience and programming, government regulations and new technologies, that could cause our actual results to differ materially from the forward-looking statements. Factors that could contribute to such differences include, but are not limited to, obtaining the required government approvals for the acquisition of New Vision’s assets, our ability to obtain financing to fund the acquisition, our ability to maximize operating synergies in connection with the acquisition, and the risks detailed in our periodic reports filed with the Securities and Exchange Commission. Reports may be accessed online at www.sec.gov or www.linmedia.com. By making these forward-looking statements, we undertake no obligation to update these statements for revisions or changes after the date of this press release.The Company was represented by Paul Hastings, LLP in the transaction. About LIN Media LIN Media is a local multimedia company that operates or services 32 network affiliates, more than 50 television and niche web sites, and a growing suite of mobile products. LIN Media’s strategic investments focus on emerging media and interactive technologies that deliver measurable results to advertisers. LIN TV Corp. is traded on the NYSE under the symbol "TVL".
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