Company Overview of LIN Television Corporation
LIN Television Corporation, a local multimedia company, owns, operates, or services television stations and digital channels in the United States. The company’s television stations deliver local news, community services, sports and entertainment programs, advertising time available to political candidates, public service announcements, and children's programs. It also sells advertising time in local news, network, and syndicated programming. The company owns, operates, or services approximately 43 television stations and 7 digital channels in 23 the United States markets. In addition, it owns and operates television station Web sites, which offer Internet-based products and services that pro...
701 Brazos Street
Austin, TX 78701
Founded in 1990
Key Executives for LIN Television Corporation
Chief Financial Officer and Senior Vice President
Executive Vice President of Digital Media
Principal Accounting Officer, Vice President and Controller
Chief Legal Officer and Senior Vice President
Vice President of Human Resources
Compensation as of Fiscal Year 2014.
LIN Television Corporation Key Developments
MGOC, Inc. and LIN Television Corporation Entered into an Amendment No. 5 to Credit Agreement with Royal Bank of Canada
May 11 15
On May 8, 2015, the MGOC Inc. and LIN Television Corporation entered into an Amendment No. 5 to Credit Agreement with Royal Bank of Canada, as Administrative Agent, and the other lenders and parties thereto. The Borrowers' existing senior secured credit facility will be amended to permit usage of the $100 million 'Available Amount' starter basket for restricted payments (including share repurchases) without regard to any leverage test, and the 5.00x total net leverage test for usage of other 'Available Amount' baskets will be changed to a 3.50x senior secured net leverage test. Also, Amendment No. 5: will require that net cash proceeds, as and when received by the Company from the qualified intermediary relating to the prior sale of television station WJAR-TV, be used to the extent necessary to prepay revolving loans outstanding (if any) at the time of receipt, will require that 'Excess Cash Flow' not be reduced by the amount of any restricted payments made after the Amendment No. 5 effective date and prior to the Company's receipt of the WJAR-TV net cash proceeds and will include certain other implementing mechanics.
Media General, Inc. and LIN Television Corporation Enter into Amendment No. 4 to Credit Agreement
Jan 26 15
On January 22, 2015, MGOC, Inc. (F/K/A Media General, Inc.) and LIN Television Corporation entered into Amendment No. 4 to Credit Agreement, with Royal Bank of Canada (RBC) and the other revolving lenders and parties thereto. Pursuant to Amendment No. 4, the financial covenant relating to the consolidated total net leverage ratio shall, effective as of the closing date of the business combination by Media General Inc. with LIN Media LLC, only apply to the Revolving Credit Facility and shall be in effect only when the aggregate amount of Letters of Credit (other than those Cash Collateralized in an amount equal to the Outstanding Amount thereof) and/or Revolving Credit Loans outstanding exceed 30% of the Revolving Credit Commitments on the last day of any fiscal quarter or fiscal year, as applicable.
LIN Television Corporation Reports Consolidated Earnings Results for the Full Year Ended December 31, 2013
Jun 13 14
LIN Television Corporation reported consolidated earnings results for the full year ended December 31, 2013. For the year, net Revenue was $652,363,000 against $553,462,000 a year ago. Operating income was $90,653,000 against $171,061,000 a year ago. Income before provision for income taxes was $31,870,000 against $22,491,000 a year ago. Income from continuing operations was $157,290,000 against loss from continuing operations of $17,972,000 a year ago. Net income was $157,290,000 against net loss of $7,601,000 a year ago. Net income attributable to the company was $158,802,000 against net loss attributable to the company of $7,045,000 a year ago. Net cash provided by operating activities, continuing operations was $49,556,000 against $149,435,000 a year ago. Capital expenditures was $29,374,000 against $28,230,000 a year ago.
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