LIN reups with CBS ahead of merger
Soon-to-be-acquired LIN Media may have lost its CBS affiliation in Indianapolis, but it has shored up its relationship with the network in ten other markets prior to folding into General Media pending regulatory approval.
Mum’s the word on the particulars of the agreement other than it is long-term. It provides CBS fare to 12 stations in 10 markets. It comes less than a month after CBS abandoned LIN’s WISH-TV in the Indiana capital.
Covered in the pact are:
WIAT-TV Birmingham AL
WIVB-TV Buffalo NY
KRQE-TV, KBIM-TV and KREZ-TV Albuquerque NM
WPRI-TV Providence RI
WANE-TV Fort Wayne IN
WTHI-TV Terre Haute IN
KIMT-TV Mason City IA
KOIN-TV Portland OR
WKBN-TV Youngstown OH
WLFI-TV Lafayette IN
LIN leader Vincent L. Sadusky stated, “We are pleased to have reached long-term agreements with CBS. Our stations are important assets to our local communities and these new agreements ensure that LIN Media and CBS will continue to serve local viewers with high-quality network programming.”
Added Ray Hopkins, President, Television Networks Distribution, CBS Corporation, “We are pleased to continue our relationship with LIN under this renewed agreement. Nearly all of LIN’s CBS stations rank #1 in their markets, and we are gratified that the full value of that CBS programming has been recognized. We look forward to reaching LIN’s more than 4 million households for years to come.”
RBR-TVBR observation: This should certainly come as good news to LIN shareholders. The loss of the WISH affiliation, along with other factors, cost them almost $2 per share. This takes at least one potential negative factor out of play as the merger proceeds toward closing day.