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Austin-based LIN Media reports 18% increase in first quarter revenue

Gary Dinges
gdinges@statesman.com

Editor’s note: This article was originally published April 28, 2014

Austin-based LIN Media recorded an 18 percent increase in first quarter revenues, it said Monday.

The company, which is in the process of being acquired by Richmond, Va.-based Media General, owns TV stations nationwide. In Central Texas, it operates three stations: NBC affiliate KXAN, The CW affiliate KNVA and MyNetworkTV affiliate KBVO.

LIN Media’s first quarter revenues were $166.2 million this year, compared to $141 million in 2013, according to the company.

Net income per diluted share was 3 cents, compared to a net loss of 2 cents per diluted share in the first quarter of 2013.

The revenue comes from a variety of sources, including TV commercials, retransmission deals with cable and satellite providers and advertising on stations’ websites.

Digital revenues have been an area of especially high growth recently, LIN Media executives said. They hit $24.5 million in the first quarter, an increase of 171 percent versus the same three months in 2013.