LIN Media reports 36% jump in net revenue for 2Q

LIN Media, which owns WTHI-TV, the CBS/FOX affiliate in Terre Haute as well as other stations elsewhere in Indiana (WISH-TV and WNDY in Indianapolis, WLFI in Lafayette and WANE in Ft. Wayne), reported its second quarter results this morning.

Some highlights of the company's report include:
  • Net revenues increased 36% to $164.3 million, compared to $121 million in the second quarter of 2012.
  • Local revenues, which include net local advertising revenues, retransmission consent fee revenues and television station website revenues, increased 44% to $107.1 million, compared to $74.3 million in the second quarter of 2012.
  • Net national revenues increased 28% to $32.6 million, compared to $25.4 million in the second quarter of 2012.
  • Interactive revenues, which include revenues from LIN Digital, Nami Media, Inc., Dedicated Media, Inc. (“Dedicated Media”) and HYFN, Inc. (“HYFN”), increased 98% to $20.8 million, compared to $10.5 million in the second quarter of 2012. The company acquired a controlling interest in both Dedicated Media and HYFN in April 2013.
  • Net political revenues were $1.5 million, compared to $7.6 million during the second quarter of 2012. 
  • Operating income decreased 23% to $26.9 million, compared to $35 million in the second quarter of 2012.
  • Net income per diluted share was $0.13, compared to $0.48 in the second quarter of 2012, which included a gain of $0.21 per share on the sale of discontinued operations.

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