Q4 Earnings: LIN Media Net Revenue Down 6%

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By Merrill Knox Comment

lin media logoLIN Media reported $183.9 million in net revenues for the fourth quarter of 2013, a 6% drop compared to the fourth quarter of 2012. Net political revenues were down significantly, from $45.5 million in Q4 2012 to $2.9 million in Q4 2013, in the non-election year.

Local revenues for the company, which include net local advertising revenues, retransmission consent fee revenues and station website revenues, were up 14% year-over-year for the quarter. Net national revenues and interactive revenues were also up, increasing 10% and 107%, respectively, compared to the fourth quarter last year. Operating income was down 61%.

“Significant growth of our digital media business and pay TV subscriber fees helped offset comparisons to the prior year
when we earned record political revenues. Excluding political revenues, we increased net revenues by 20% in the fourth quarter
and 35% for the full year,” LIN Media CEO┬áVincent L. Sadusky said in a statement. “Looking ahead, we are confident in the evolution of our company and our ability to capitalize on our recent acquisitions, this year’s non-presidential elections and the winter Olympics.”