Another LIN press release - looks like they will handle all the admin and technical stuff for ACME, so maybe you guys can actually get NFL preseason football in HD next season off the air!
It does bother me one organization is hired to handle admin, engineering, sales for 4 stations in our market, so I wonder when the FCC say enough is enough control of two media groups operating under the resources of one as far as being monopolistic. If you are a business owner in town, imagine your choices of negotiating an ad airing on the big 6 being limited to just the 3 (KOB, KOAT, and the acme/lin group) whereas earlier in the year it was 5.
press release follows:
LIN Media and ACME Communications Announce Shared Services Arrangement in the Albuquerque-Santa Fe, Dayton and Green Bay-Appleton Markets
PROVIDENCE, R.I., Jun 04, 2010 (BUSINESS WIRE) --LIN TV Corp. ("LIN Media"; NYSE: TVL), a local television and multimedia company, today announced that the Company and ACME Communications, Inc. have entered into shared services and related agreements for ACME's television stations KWBQ-TV and KASY-TV in Albuquerque-Santa Fe, NM; WBDT-TV in Dayton, OH; and WIWB-TV in Green Bay-Appleton, WI.
Under the terms of the agreements, LIN Media will provide technical, engineering, promotional, administrative and other operational support services from its stations KRQE-TV and KASA-TV in the Albuquerque-Santa Fe market, WDTN-TV in the Dayton market, and WLUK-TV in the Green Bay-Appleton market. In addition, LIN Media will provide advertising sales services under a joint sales agreement for the ACME stations in the Dayton and Green Bay-Appleton markets. The agreements are expected to provide operating synergies and expense savings to both parties in each of the markets.
In making the announcement, Vincent L. Sadusky, President and Chief Executive Officer of LIN Media, said, "This arrangement leverages LIN Media's core strengths in operating leading local multimedia platforms and allows both parties to enjoy the benefits of greater economies of scale."
Doug Gealy, President and Chief Operating Officer of ACME Television added, "We are delighted to have in place an arrangement that further strengthens our stations and will allow them to better serve their communities."
This press release includes statements that constitute "forward-looking statements," including statements regarding our future plans and strategies, growth opportunities, and our future prospects. Forward-looking statements inherently involve risks and uncertainties, including, among other factors, general economic conditions, demand for advertising, risks associated with the integration of acquired businesses, competition for audience and programming, government regulations and new technologies, that could cause our actual results to differ materially from the forward-looking statements. Factors that could contribute to such differences include the risks detailed in our periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, we undertake no obligation to update these statements for revisions or changes after the date of this press release.
About LIN Media
LIN Media, along with its subsidiaries, is a local multimedia company that owns and/or operates 28 network-affiliated broadcast television stations and interactive television station and niche web sites in 17 U.S. markets. LIN Media's online advertising business, RMM, leverages unique technology, new product innovation and customized interactive and mobile advertising solutions to deliver measurable results to local, regional and national clients.
LIN TV Corp. is traded on the New York Stock Exchange under the symbol "TVL". Financial information about the company is available at www.linmedia.com
About ACME Communications, Inc.
ACME Communications, Inc. owns and operates six television stations serving markets covering 2.2% of the nation's television households. The Company's stations are: KWBQ-TV and KASY-TV, Albuquerque-Santa Fe, NM; WBXX-TV, Knoxville, TN; WBDT-TV, Dayton, OH; WIWB-TV, Green Bay-Appleton, WI and WBUW-TV, Madison, WI. All of the Company's stations, except KASY-TV, a MyNetworkTV affiliate, are affiliates of The CW Network. The Company also produces The Daily Buzz, a nationally syndicated morning news program which airs on 161 television stations across the country. The Company's shares are traded over-the-counter under the symbol: ACME.PK.
SOURCE: LIN TV Corp.
LIN TV Corp.
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