LIN Media reported first-quarter revenue of $103.2 million, 15% more than its first-quarter earnings a year ago. Net local ad revenues increased 16% to $67.7 million, while net national revenues increased 4% to $23.1 million. Net political revenues were $2.9 million, compared to $1 million in the first quarter of 2011. Interactive revenues increased 41% to $7 million in the quarter.
LIN's operating income grew 31% to $20.5 million.
"2012 is off to a great start as a result of strong first quarter results and revenue increases in all areas of our business," said Vincent Sadusky, president and CEO. "We continue to see the benefits of our long term strategy and we are excited about the potential opportunity to capitalize on numerous synergies that would result from our agreement with New Vision Television."
On May 4, LIN agreed to acquire the 13 stations belonging to New Vision Television for $330.4 million and the assumption of $12 million of debt.
On April 21, LIN completed the sale of WUPW Toledo to WUPW, LLC.
LIN forecasts second-quarter revenue to be up 12% to 16%.
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