LIN 3Q Revenue Rises 18% To $192 Million

LIN Media today reported results for its third quarter that included an 18% increase in net broadcast revenue to $192.1 million compared to $163.1 million in the second quarter of 2013.

Local revenues, which include net local advertising revenues, retransmission consent fee revenues and television station website revenues, increased 6% to $111.9 million compared to $105.5 million in the third quarter of 2013.

Net digital revenues increased 66% to $32.3 million compared to $19.5 million in the third quarter of 2013.

Operating loss, which included a non-cash impairment charge of $60.9 million, was $20.4 million compared to operating income of $23.2 million in the third quarter of 2013.

Total net revenue for the company rose 18% to $192.1 million compared to $163.1 million in the third quarter of 2013.

Net national revenues decreased 10% to $29.5 million compared to $32.8 million in the third quarter of 2013.

Net political revenues were $15.5 million compared to $2.6 million in the third quarter of 2013.

The company’s unduplicated desktop reach equaled nearly 100 million U.S. unique visitors, reaching 42% of the total U.S. Internet audience. The company’s video platform ranked No.14 in comScore’s Video Metrix report.

Commenting on third quarter 2014 results, company President-CEO Vincent L. Sadusky said: “Continued growth and expansion of our digital media business, robust political advertising and increasing subscriber fees helped drive our strong results during the third, and likely final quarter before we close on our merger with Media General. This is an exciting time as we prepare to combine and create one of the largest broadcast companies in the U.S., with the largest and most diversified digital business in our industry. I have great confidence in our ability to successfully execute our integration plans and capitalize on numerous growth opportunities.”