This Day On The Street
Continue to site
ADVERTISEMENT
This account is pending registration confirmation. Please click on the link within the confirmation email previously sent you to complete registration.
Need a new registration confirmation email? Click here

LIN Media Completes The Acquisition Of Television Stations From New Vision Television

LIN TV Corp. (“LIN Media”; NYSE: TVL), a local multimedia company, announced that its wholly-owned subsidiary, LIN Television Corporation (“LIN Television” or the “Company”), completed the acquisition of television stations from New Vision Television.

LIN Media now operates or services 43 television stations, seven digital channels and a growing portfolio of web sites and mobile apps in 23 U.S. markets, and delivers important local news and programming to 10.6% of U.S. television homes.

Commenting on the announcement, the Company’s President and Chief Executive Officer Vincent L. Sadusky said: “LIN Media has acquired a terrific collection of broadcast properties with employees that share a similar passion for excellence and growth that have driven our company for the past 50 years. The addition of these television stations further advances our strategy to expand our national footprint and digital media business.”

Jason Elkin, New Vision’s CEO, said: “Even though this is the fourth major television station group that New Vision's management has successfully managed and then sold, we have never worked with a finer group of colleagues than the general managers, managers and employees who have built the thriving stations that LIN Media is now acquiring. Saying goodbye to such talented and dedicated people - many of whom have become great personal friends - is bittersweet, but today is made easier because New Vision's management believes LIN Media is a fine organization that will continue to provide great places to work and significant opportunities to advance.”

The newly acquired or serviced television stations are located in the following markets: Portland, OR (DMA 22); Birmingham, AL (DMA 39); Wichita, KS (DMA 67); Honolulu, HI (DMA 71); Savannah, GA (DMA 92); Youngstown, OH (DMA 110); Topeka, KS (DMA 136); and Mason City, IA (DMA 153).

LIN Media was represented by Paul Hastings, LLP in the transaction. Moelis & Co. acted as financial advisor to New Vision Television in the sale of its assets.

1 of 3

Check Out Our Best Services for Investors

Action Alerts PLUS

Portfolio Manager Jim Cramer and Director of Research Jack Mohr reveal their investment tactics while giving advanced notice before every trade.

Product Features:
  • $2.5+ million portfolio
  • Large-cap and dividend focus
  • Intraday trade alerts from Cramer
Quant Ratings

Access the tool that DOMINATES the Russell 2000 and the S&P 500.

Product Features:
  • Buy, hold, or sell recommendations for over 4,300 stocks
  • Unlimited research reports on your favorite stocks
  • A custom stock screener
Stocks Under $10

David Peltier uncovers low dollar stocks with serious upside potential that are flying under Wall Street's radar.

Product Features:
  • Model portfolio
  • Stocks trading below $10
  • Intraday trade alerts
14-Days Free
Only $9.95
14-Days Free
Dividend Stock Advisor

David Peltier identifies the best of breed dividend stocks that will pay a reliable AND significant income stream.

Product Features:
  • Diversified model portfolio of dividend stocks
  • Updates with exact steps to take - BUY, HOLD, SELL
Trifecta Stocks

Every recommendation goes through 3 layers of intense scrutiny—quantitative, fundamental and technical analysis—to maximize profit potential and minimize risk.

Product Features:
  • Model Portfolio
  • Intra Day Trade alerts
  • Access to Quant Ratings
Options Profits

Our options trading pros provide over 100 monthly option trading ideas and strategies to help you become a well-seasoned trader.

Product Features:
  • Actionable options commentary and news
  • Real-time trading community
SYM TRADE IT LAST %CHG

Markets

Chart of I:DJI
DOW 16,643.01 -11.76 -0.07%
S&P 500 1,988.87 +1.21 0.06%
NASDAQ 4,828.3250 +15.6170 0.32%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs