LIN Media, which owns, operates, or services 32 stations in 17 markets across the country, today announced a 3% decrease in third quarter revenue, compared to the same period last year.
LIN brought in $100.8 million in Q3–compared to $103.6 million last year–and despite significant increases in retrans fees and digital advertising revenues, the company was unable to overcome a 78% drop in political advertising.
“Our continued digital revenue growth helped offset the decrease in political revenue and current economic challenges,” LIN president and CEO Vincent Sadusky said. “We are encouraged to see positive indicators for the fourth quarter.”
In addition to announced financial results, LIN boasted that 81% of its ABC, CBS, Fox, and NBC news stations were ranked number one or two in their local markets based on key demo viewership.