September 30, 2016 6:37 PM ET


Company Overview of LIN Television Corporation

Company Overview

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

Suite 800

Austin, TX 78701

United States

Founded in 1990





Key Executives for LIN Television Corporation

Chief Financial Officer and Senior Vice President
Age: 51
Executive Vice President of Digital Media
Age: 65
Principal Accounting Officer, Vice President and Controller
Age: 40
Chief Legal Officer and Senior Vice President
Age: 52
Vice President of Human Resources
Compensation as of Fiscal Year 2016.

LIN Television Corporation Key Developments

Media General, Inc. Announces Exchange Offer for LIN Television Corporation's 5.875% Senior Notes Due 2022

Media General Inc. announced that LIN Television Corporation, a wholly owned subsidiary of Media General Inc., is offering to exchange up to $400,000,000 aggregate principal amount of its outstanding 5.875% Senior Notes due 2022 (the Original Notes) for up to $400,000,000 aggregate principal amount of its new 5.875% Senior Notes due 2022 that have been registered under the Securities Act of 1933, as amended. The Exchange Offer is being made to satisfy the company's obligations under a registration rights agreement entered into in connection with the issuance of the Original Notes, and does not represent a new financing transaction. The terms of the Exchange Notes are substantially identical to the terms of the Original Notes, except that the transfer restrictions, registration rights and provisions for additional interest relating to the Original Notes do not apply to the Exchange Notes. The Exchange Offer will expire at 11:59 p.m., New York City time on December 17, 2015, unless extended by the company. Valid tenders of the Original Notes must be made, and may be withdrawn at any time, before the expiration date of the Exchange Offer.

MGOC, Inc. and LIN Television Corporation Enter into Amendment No. 6 to its Credit Agreement

On June 22, 2015, Media General Inc. entered into Amendment No. 6 to its Credit Agreement with its subsidiaries MGOC Inc. and LIN Television Corporation (together, the Borrowers"), Royal Bank of Canada as Administrative Agent, and the other lenders and parties thereto. Pursuant to Amendment No. 6, the Borrowers have re-priced the existing aggregate $1.67 billion term B loans outstanding under their senior secured credit facility through a refinancing of the term B loans with a new tranche of otherwise identical term B loans. The interest rate for the re-priced term B loans is based on, at the Borrowers' option, adjusted LIBOR plus a margin of 3.00% or Base Rate plus a margin of 2.00 %. The maturity date for the term B loans remains July 31, 2020, and the quarterly amortization for the term B loans remains 0.25%, with the balance due at maturity. The expired 1% 'soft call' premium for re-pricing transactions within a 6 month period has been reestablished for a 12-month period commencing on the Amendment No. 6 effective date.

MGOC, Inc. and LIN Television Corporation Entered into an Amendment No. 5 to Credit Agreement with Royal Bank of Canada

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.

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