LIN Media

By Yilin Pei

LIN Media Logo (Courtesy of

       LIN Media, LLC

One West Exchange Street, Suite 5A
Providence, RI 02903

About the Company


LIN TV logo

LIN Media was founded in 1961  under the name “LIN Broadcasting”. In 1994, “LIN Television Corporation” spun off from “LIN Broadcasting” as a public company. In 2010, the company rebranded to LIN Media, transforming to a local multimedia company but the cooperate name didn’t change.

In 2013, LIN was re-organized into LIN Media, LLC, at Delaware.[1]  Nowadatries to drive brand, potential audience and revenue growth by providing by diverse platforms such as mobile products, apps and web sites. [2]

TV Stations

LIN Media Brands (Courtesy of linmedia. com)

LIN Media Brands

LIN Media operates or services 43 stations (40 full-power and 3 low-power stations), 7 digital channels in 23 markets with 10.5% U.S. households to deliver local news, sports, community stories and entertainment programming. The 43 stations include 11 CBS affiliates, 10 FOX affiliates, 7 NBC affiliates, 5 ABC affiliates, 8 CW affiliates, 8 MNT affiliates and a TEL affiliate and the company also operates 14 multi-station markets. [3] [4] LIN Media concentrates on median-size stations and markets which is in the range of  #20 DMA to #70 DMA. [5]

LIN's stations and markets

LIN’s Stations and Markets

As of July 13th, 2013, household rating of LIN Media was 3.7 estimated by Nielsen, the most respected global information and measurement company. The rating of LIN Media is higher than the company’s competitors, Gray,  Media General and Nexstar which ratings are respectively 3.4, 2.9 and 2.2. [6] And LIN’s big- four stations’ news rating is 24% higher than national average level.[7] In addition, LIN Media also works on Unique Local Programming such as The Rhode Show in WPRI, Mardnda – Where You Live in WOTV, and The Hampton Roads Show on WAVY[8]

LIN Digital

LIN Digital

LIN Digital logo

LIN Media was one of the first broadcasters to build their own digital business. LIN Digital,the subsidiary of LIN Media, differentiates LIN Media from other broadcasting companies by  providing unique and high-impacted digital marketing solutions to the most honored agencies and brands in U.S. and helps them to  target potential audiences by customized websites, delivering high quality videos, and mobile devices. In addition, By cooperating with television and interactive analytic companies, LIN Digital also provides value evaluation of cross-platform products for advertisers.  LIN DIgital is the top 30 Ad network announced by comScore, which is the most respected digital analytics company in U.S. [9]

Peer Comparison - Q2'13 Digital Revenue

competitor comparison of digital revenues of Q2’13

As of the second quarter of 2013, LIN Media’s digital revenue was $25.1 million which was triple of the second quarter digital revenue of Nexstar, one of the most competitive broadcasting company of LIN Media.[10]

 Nowadays, LIN DIgital’s sales has reached to 32 markets including Chicago, New York City and Los Angeles. Moreover,  LIN Digital released new novel products recently which connect brands cross different platforms such as videos, displays, social media and mobile by working with HYFN and Dedicated Media, the companies that LIN Media acquires major ownership. On Oct. 24th, comScore announced that LIN Digital is the #17 comScore video network. [11]


 Key Executives

Vincent L. Sadusky – President & CEO

Vincent L. Sadusky

Vincent L. Sadusky

Scott M. Blumenthal – EVP Television

Scott M. Blumenthal

Scott M. Blumenthal

Richard J. Schmaeling –  Senior Vice President Chief Financial Officer

 Richard J. Schmaeling

Richard J. Schmaeling

Kimberly S. Davis –  Vice President Human Resources

Kimberly S. Davis

Kimberly S. Davis

For more information on LIN Media’s executives, click here.

Stock Information

LIN Media LLC Class A Common St Stock Chart - Fall of 2013
LIN Media LLC Class A Common St Stock Chart – Fall of 2013 
LIN Media LLC Class A Common St Stock Chart - Fall of 2012

LIN Media LLC Class A Common St Stock Chart – Fall of 2012

 The share price of LIN Media LLC (ticker: LIN) has increased 50.9% in the Fall of 2013 (from August 26th to November 19th). On Aug. 28th, LIN Media got the lowest share price, $16.00, and On Oct. 24th, the company reaches the highest, $26.05 a piece. At the same period of 2012, the lowest share price is $3.94 and the highest share price is $5.82. [12] The success of LIN Digital is one of the main reasons of the share price’s increase.

Financial Information

For the nine months ended September 30th of 2013, LIN Media’s net revenues were $468,448 million, which have increased 31.1% compared with 2011’s $357,292 million.

As of 2013, because of the launch of LIN Digital as well as acquiring major ownership of HYFN and Dedicated Media, the company expects that the digital revenues might over $100 million, which might increase 76% compared with 2012’s $56.8 million. The company also expects that revenues will reach to the range of $190 million to $210 million to achieve a mid 20s operation margin in 2016.[13] 

Dedicated Media logo

Dedicated Media logo



As of the third quarter ended Sept. 30th, LIN Media’s local revenues including retransmission consent fee revenues, local advertising and TV station website revenues was $105.5 million that have increased 44% by comparing with the third quarter of 2012’s $73.3 million. [14]

In addition, LIN Media estimates that $14.7 million to $17.7 million might drop in the fourth quarter’s net revenues of 2013 compared to the fourth quarter of 2012 because of the decline of significant political advertising in 2013. [15]


On Oct. 3rd, LIN Media held an investor conference in Austin, Texas and admitted that the company might sell some TV spectrum in FCC’s incentive auction held in 2014. That can help the company profit out of selling Class A low-power stations.

In addition, LIN Media plans to auction off WCTX, a MyNet affiliated television station located in New Haven, CT, and sign its MNT-anchored programming under ABC affiliate WTNH, and the company might make $115 million cash flow under this decision. [16]

Besides, LIN Media owned station, KHON-TV, a fox-affiliated television station located in Honolulu (#69 DMA), upgraded the newscast to high definition, switched the digital platforms and got the most advanced graphics system on Oct. 18th.[17] The improvement of technology is one of the most effective way to capture audiences.

What’s Next for LIN Media? 

Public advertising is one of the foundation of LIN Media’s revenue and 2014 will have a new strong political cycle such as the heated debate of healthcare. Those political activities will give the company incremental opportunity to make profits.

For programming, Mr. Sadusky said that continuing combining high-rated sports and entertainment syndicated programming and local programming together is the most effective method in television.

As of 2014 Sochi Winter Olympics, LIN Media will focus on freestyle skiing and snowboarding instead of the most popular events like ice hockey. In addition, LIN’s news stations are finding local content such as local athletes’ stories to increase coverage and attention.

Besides, LIN Media announces to keep increasing net retransmission consent fee without disclosing how many percentages they will keep. Moreover, the company plans working on shorter cycle operations with cable because of the rapid movement of the market and longer cycle operations with the networks. [18]

The company expects that the net retransmission consent fee might exceed $90 million in 2013, which might increase almost 200% compared with 2009’s $30.1 million. [19]

On Dec. 10th, LIN Media will hold a small or medium cap conference at JP Morgan. By that time, the company will discuss more about future investments and developing strategies. [20] 


Major competitors of LIN Media include Nexstar, Gray, EW Scripps, Media General and Fisher Communications. [21]



[1] LIN Media History – 

[2] About LIN Media – – Retrieved Date: Sept. 25th, 2013

[3] About LIN Media –

[4] LIN’s long-term affiliations – – Retrieved Date: Oct. 3rd, 2013

[5] LIN Media’s Markets Rank Range – – Retrieved Date: Sept. 5th, 2013

[6] Peer Comparison of ratings – – Retrieved Date: Oct. 3rd, 2013

[7] LIN’s Local News Rating – – Retrieved Date: Oct. 3rd, 2013

[8] LIN’s Local Programmings – – Retrieved Date: Oct. 3rd, 2013

[9] About LIN Digital –

[10] Competitor Comparison of digital revenues of Q2’13 – – Retrieved Date: Oct. 3rd, 2013

[11] LIN Digital’s Video Network Rank of ComScore – – Retrieved Date: Oct. 24, 2013

[12] LIN Media Class A Common St Stock Chart of the Fall 2013 –;range=20130826,20131115;compare=;indicator=volume;charttype=area;crosshair=on;ohlcvalues=0;logscale=off;source=undefined;

[13] LIN Media Digital Revenue – -Retrieved Date: Oct. 3rd, 2013

[14] LIN’s Local Revenue – – Retrieved Date: NOV. 6th, 2013

[15] LIN’s Q4’13 Revenue Expectation – – Retrieved Date: Nov. 6th, 2013

[16] LIN Media’s Plan of Selling Spectrum – – Retrieved Date: Oct. 30th, 2013

[17] KHON upgraded newscasts in HD – – Retrieved Date: Oct. 18th, 2013

[18] LIN Media’s Tech, Media & Telecom Conference - (requires registration) – Retrieved date: NOV. 12th, 2013.

[19] LIN’s Net Retransmission Consent Fee – – Retrieved Date: Oct. 3rd, 2013

[20] LIN Media’s Future Cap Conference -

[21] LIN Media’s Competitors – – Retrieved Date: Oct. 3rd, 2013


Comcast – NBC Universal


By Angela Saggiomo



30 Rockefeller Plaza
New York, NY 10112

Key Executives [1]


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  Stephen Burke
CEO, NBCUniversal


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Brian Roberts
Chairman and CEO, Comcast Corporation


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Stuart Epstein
Executive VP and CFO, NBCUniversal


-courtesy of

Robert Greenblatt
Chairman, NBC Entertainment

 About the Company [2]


This picture provides a detailed list of holdings under the NBCU umbrella for each platform. (courtesy of

NBCUniversal is a major American media company that owns and operates content across multiple platforms. NBCU distributes content through broadcast and cable television, film, and digital media. The company is owned by the Philadelphia based Comcast Corporation.

History [3]


-courtesy of

In 2004 NBC and Universal merged to form NBCUniversal, a company jointly owed by General Electric and Vivendi. In 2009 the Comcast Corporation announced intentions of acquiring NBCU and the venture was completed in January of 2011 when Comcast became majority stockholders. In 2013 Comcast gained full ownership of the media conglomerate after purchasing GE’s minority stake for $16.7 billion.

Financials* [4]

NBCUniversal had a very successful third quarter in 2013. Overall revenue increased 3.9% to $5.9 billion. For the cable networks revenue is up 4% to over $2 billion, increasing 5.4% and 4.6% in distribution and advertising respectively. Broadcast also saw an increase in revenue, up 2.6% due to an increase in retransmission fees. This is an important increase because it is a fairly new revenue stream for the company.

*all financials are compared to third quarter results of 2012 excluding extra revenue generated by the 2012 Olympics which were broadcast by NBCUniversal during that period

In the News

The Esquire Network 


-courtesy of

In early 2013 NBCUniversal announced plans to launch the Esquire Network on the low performing G4 [6]. However after examining network brands, and with less than a month before its unveiling, it was announced that it would instead replace the female skewing Style Network. With channels like Bravo, E! and Oxygen which tend to perform better with females, NBCU saw the launch of this network as a chance to appeal to a more male audience.

Since its debut in late September, Esquire has premiered original programming as well as aired rebroadcasts of NBC favorites such as Parks and Recreation and Late Night with Jimmy Fallon. The new network appeals to a male audience but differs greatly from its direct competition Spike and FX. The target audience is of the more sophisticated male population with many new shows about travel and cooking [7]. Esquire joins the ranks of NBCUniversal owned networks that are programmed around a very distinct brand, allowing them to better target specific audiences for advertisers.

Welcome to the Family! [5]


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On November 13th Comcast NBCUniversal announced the acquisition of the popular children’s cable network PBS Kids Sprout. NBCU already owned 40 percent of the network, buying the rest from PBS and HIT Television Ventures. The company first acquired management of the children’s network in 2011 during the merge with the Comcast Corporation.

The new ownership signals a significant change for the network, which will drop PBS from its title. NBCU plans to create much more original programming and mobile content for the network in order to better compete with rival networks such as Nick Jr. and Disney Jr. Overall NBCU has had trouble keeping up with social media content and this acquisition shows a step towards increasing their presence online [12]. By creating original shows for the network NBCU will own all rights and therefore be able to create much more digital content at a much lower cost.

On the heels of this announcement NBCUniversal also revealed that they would be shutting down KidsCo in early 2014. The network, co-owned by Corus Entertainment, could not find footing among the wide variety of children’s programing available in today’s market. Rather than splitting original children’s programming across multiple networks NBCU has decided to focus on one channel, allowing them to better distribute the content across multiple platforms. [8]

Ad Sales Overhaul


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Following a successful season in upfront ad sales NBCUniversal has decided to revamp its Advertisement Sales Department [10]. Previously, the company would sell ad inventory on a single network. Rather, they plan to sell ad time based on “demographic and thematic lines” [9]. This way ad reps can offer sponsors distinct audience groups for a more targeted sales approach. Because NBCUniversal has so many cable channels with such defined brands they can use this new sales structure to capitalize on this strength.

Networks will be split into two major groups: mass-entertainment programming and lifestyle cable channels. The mass-entertainment channels will include NBC, USA and Syfy while the lifestyle group includes networks like E!, Bravo and Esquire [11]. The department also saw a great amount of layoffs as a result of the restructuring because many of the channels are being packaged together for ad sales.

On the Horizon

2014 Winter Olympics


-courtesy of

NBCUniversal will air the 2014 Winter Games this February, which will take place in Sochi, Russia. NBCU has been a long time broadcaster of the Olympic games, a deal that has proven very lucrative for the company in the past. Comcast NBCUniversal made a deal to pay $4.38 billion for the exclusive rights to the next four Olympic games. The deal also stated that NBCUniversal would air all the events live for the first time. This is a decision made after the results of the events at the 2012 London Summer Olympics were revealed through social media prior to their primetime broadcast [14].

This year’s winter games will involve six new events: the ski halfpipe, women’s ski jumping, biathlon mixed relay, a figure skating team event, and luge team relays [15]. However, the games have already received a great deal of bad press as a result of strict anti-gay laws put in place by Russian President Vladimir Putin. The politician enacted a national law that bans all homosexual activity and even support [16]. While the International Olympic Committee has ensured that this will not affect the games, many have chosen to boycott the events. It is still unclear as to how this will affect the NBCUniversal coverage of the games.

To Infinity and Beyond [13]


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NBCUniversal has made a deal with Virgin Galactic to broadcast the eccentric billionaire Richard Branson’s first commercial flight to space. Multiple networks within the NBCUniversal family will cover the flight, which takes off next year. It will begin with a primetime special of the take off followed by interviews conducted next day on the Today Show.

This deal signals a “continued push for live event programming from entertainment channels and news organizations,” an idea that was previously unpopular because of its lack of rebroadcast opportunity[13]. However with the emergence of new media, live broadcast such as this can be very lucrative because it can air across multiple platforms at the same time. This allows companies like NBCU to maximize their reach for a single broadcast.


[1] – List of Executives – NBCUniversal

[2] – About NBCUniversal – NBCUniversal

[3] – History of NBCUniversal – NBCUniversal

[4] – NBCUniversal Financials – Comcast Corporation

[5] – NBCUniversal Acquisition of Sprout – NYTimes

[6] – Esquire Network Takes over Style – The Hollywood Reporter

[7] – Review of Esquire Network –

[8] – KidsCo Shutting Down – The Hollywood Reporter

[9] – NBCU Ad Sales Revamp – Variety

[10] – NBCU Upfront  SuccessVariety

[11] – NBCU LayoffsVariety

[12] – NBCU Social Media FootprintForbes

[13] – NBCU to Air First Virgin Space FlightCapital New York

[14] – NBCU Olympic DealNYTimes

[15] – Six New Olympic GamesNBC Bay Area

[16] – Olympic BoycottPRNewser