LIN TV's net revenue for the first quarter was $92.6 million, up 1% from the same quarter a year ago. Digital revenues, including retransmission consent earnings, increased 31% to $17.2 million.
"We delivered another strong performance in the first quarter, in spite of significant uncertainty that continues to weigh on the economy," said Vincent Sadusky, LIN's president and CEO. "Digital revenues increased 31% compared to the prior year and are now 19% of total net revenues, the highest contribution since the launch of our digital strategy in 2007. Our growth in digital revenues, strength of our local brands and multiplatform strategy, helped offset the decrease in political revenues to begin this non election year and contributed to our overall growth."
LIN forecasted second quarter revenue to be in the range of $102 million and $105.2 million, showing some growth over the first quarter of 2011.
LIN said it expects its acquisitions of WCWF Green Bay and "certain assets" of WBDT Dayton to close in the second quarter. The Providence-based broadcaster owns, operates or services 32 stations.
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