LIN Media 3Q Net Revenue Climbs

LIN TV Corp. today reported results for its third quarter ended Sept. 30 that included a 25% gain in net revenue to $163.1 million, compared to $133.1 million in the third quarter of 2012.

Local revenues, which include net local advertising revenues, retransmission consent fee revenues and television station website revenues, increased 44% to $105.5 million, compared to $73.1 million in the third quarter of 2012.

Net national revenues increased 26% to $32.8 million, compared to $26.1 million in the third quarter of 2012.

Core local and national time sales combined, which excludes political time sales, increased 31% in the third quarter of 2013 compared to the third quarter of 2012.

The automotive category, which represented 27% of local and national advertising sales in the third quarter of 2013, was flat compared to the third quarter of 2012, and was up 4% on a same station basis excluding our estimate of incremental Olympics automotive advertising in 2012.

Interactive revenues, which include revenues from LIN Digital, Nami Media Inc., Dedicated Media Inc. and HYFN Inc., increased 81% to $19.5 million, compared to $10.8 million in the third quarter of 2012.

Net political revenues were $2.6 million, compared to $20.4 million during the third quarter of 2012.

Net income per diluted share was $2.63, which includes a $2.56 per share benefit from special items, compared to $0.36 in the third quarter of 2012, which included a charge of $0.05 per share.

LIN President-CEO Vincent L. Sadusky said: “We achieved another quarter of significant growth in revenues from our digital businesses and pay TV subscriber fees and our core time sales continue to gain momentum. Excluding record political revenues and our estimate of incremental Olympic revenues in 2012, core advertising revenues increased 3% on a same station basis in the third quarter. Looking forward, our long-term strategy and the increased demand for our innovative multiscreen advertising solutions position us well for the remainder of 2013 and the political year ahead.”