LIN Media, most recently in the spotlight for its retransmission consent fight/channels blackout with Dish Network (Nasdaq: DISH), earned 24 percent more net revenue in the fourth quarter than it did a year ago. Annual earnings were also up 24 percent.
LIN credited improved advertising and its digital and interactive initiatives for the increases that drove fourth quarter revenue to $125.1 million (compared to $101.1 million) and annual revenues to $420 million (compared to $229.5 million). Besides being a hardnosed retrans opponent, LIN is also a leader within the broadcast space driving mobile digital TV (MDTV).
"Despite the economy's slow rebound ... local TV continued to prove its unparalleled reach and effectiveness," LIN President-CEO Vince Sadusky said in the company's earnings news release. "Also driving our strong performance was our ability to achieve sustainable digital revenue growth of 28 percent for the quarter and 42 percent for the year."
For more:
- see this news release
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