LIN Media reported $166.2 million in net revenues for the first quarter of 2014, an 18% increase compared to the year-ago quarter.
Local revenues, which include net local advertising revenues, retransmission consent fee revenues and station website revenues, were up 9% for the quarter. Net national revenues, net political revenues and operating income were also up.
“Our results were driven by an increase in television advertising, higher pay-television subscriber fees and significant growth in digital revenues, which now comprise 15% of our net revenues and has its own reportable segment,” LIN Media president and CEO Vincent L. Sadusky said in a statement. “Our diverse group of assets helped us maximize revenues from the winter Olympics and the Super Bowl and achieve the high end of our first quarter revenue guidance. I am excited about the expansion of our digital portfolio with the addition of Federated Media and the future scale and synergy opportunities from the pending merger with Media General.”
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