LIN Media, which owns network affiliates in 15 markets across the country, today reported financial results for the fourth quarter, as well as the full year, of 2011.

Like most station groups, LIN experienced a sharp drop in political advertising. Net political revenues for the fourth quarter were $3 million, compared to $23.8 million for the same period the previous year. The dip in political advertising led to an 8% decrease in total revenue for the fourth quarter.

Outside of political advertising, the company saw some significant gains. Local revenue, which includes local advertising, retrans fees, and website revenue, was up 12% for the fourth quarter.

For the full year, LIN’s net revenue decreased 2% to $400 million, compared to $408.2 million in 2010. Excluding political advertising, though, the company saw a 7% increase in revenue for the year.

“We had a strong fourth quarter finish to a year marked by many successes,” said Vincent Sadusky, LIN Media’s president and CEO. “Looking ahead, we are optimistic about further economic recovery and its positive impact on TV advertising in 2012.”