LIN TV revealed Thursday (Oct. 30), during the company’s third quarter earnings call, that it will be receiving “cash payments” from Time Warner Cable for the retransmission of its stations in 11 markets.
“We received the compensation we set out to receive from Time Warner Cable,” said Vincent Sadusky, president and CEO of LIN TV, who declined to say precisely how much due to confidentiality agreements between the parties.
LIN TV and Time Warner Cable, the second largest cable operator, resolved their nearly monthlong standoff earlier this week.
In third quarter, LIN TV’s digital revenue, which included Internet advertising and retransmission consent fees, were up 88 percent to $8.1 million, compared to $4.3 million last year. LIN TV net revenue was up 5 percent to $98.8 million, due to the growth in digital and political. But core advertising sales declined 8 percent.