This Day On The Street
Continue to site
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 TV Corp. Updates Its Intention Regarding The Timing For Completing Its Reorganization Into A Limited Liability Company

LIN TV Corp. (“LIN”; NYSE: TVL), a local multimedia company, has enjoyed an increase of approximately 32% in the trading price of its class A common stock since announcing its entry into a merger agreement with LIN Media LLC, a recently formed, wholly-owned limited liability company subsidiary (“LIN Media”). The merger will allow LIN to convert its form of organization from a corporation to a limited liability company. LIN has solicited proxies from its stockholders to vote on the adoption of the merger agreement, and approve the merger of LIN into LIN Media, at a special meeting of stockholders to be held on July 30, 2013.

As LIN has previously disclosed, the benefit to LIN of completing the merger is the ability to reduce all or a portion of a $573 million capital gain that resulted from LIN’s sale of a minority interest in a joint venture in February 2013. The amount of the reduction is directly related to, and is reduced by, an increase in the trading price of LIN’s class A common stock. As LIN has previously communicated to its stockholders and as a result of the recent increase in the current trading price of LIN’s class A common stock, LIN’s board of directors may decide to defer the completion of the merger until a later time (or abandon it altogether) as permitted by the merger agreement after LIN’s stockholders vote to adopt the merger agreement at the special meeting. LIN’s board of directors will continue to evaluate the appropriate timing for completing the merger, whether promptly after its stockholders vote to adopt the merger agreement or a later time.

About LIN

LIN is a local multimedia company that operates or services 43 television stations and seven digital channels in 23 U.S. markets, along with a diverse portfolio of web sites, apps and mobile products that make it more convenient to access its unique and relevant content on multiple screens.

1 of 4

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
Real Money

More than 30 investing pros with skin in the game give you actionable insight and investment ideas.

Product Features:
  • Access to Jim Cramer's daily blog
  • Intraday commentary and news
  • Real-time trading forums
Only $49.95
14-Days Free
14-Days Free


Chart of I:DJI
DOW 17,798.49 -14.90 -0.08%
S&P 500 2,090.11 +1.24 0.06%
NASDAQ 5,127.5250 +11.3820 0.22%

Free Reports

Top Rated Stocks Top Rated Funds Top Rated ETFs