LIN Media Announces Expiration of LIN Television Corporation’s
Exchange Offer for its 8⅜% Senior Notes due 2018
PROVIDENCE, R.I. – October 13, 2010 – LIN TV Corp. (“LIN Media”; NYSE:TVL), a local multimedia company, today announced the expiration of the offer made by its wholly owned subsidiary, LIN Television Corporation, to exchange all of LIN Television Corporation’s outstanding 8⅜% Senior Notes due 2018 issued April 12, 2010 (“Old Notes”) in a private placement pursuant to Rule 144A and Regulation S under the Securities Act of 1933, as amended (“Securities Act”), for new 8⅜% Senior Notes due 2018 (“New Notes”) registered under the Securities Act. The exchange offer expired at 5:00 p.m., New York City time, on October 12, 2010.
Subject to confirmation of tenders sent via guaranteed delivery procedures, the Bank of New York Mellon Trust Company, N.A., the exchange agent for the exchange offer, has advised that $200,000,000 aggregate principal amount of the Old Notes were validly tendered and not validly withdrawn prior to the expiration of the exchange offer, which represents 100% of the aggregate principal amount of Old Notes outstanding upon commencement of the exchange offer. LIN Television Corporation has accepted for exchange all of the Old Notes validly tendered and not validly withdrawn. LIN Television Corporation expects to issue the New Notes in exchange for the Old Notes on or promptly after October 15, 2010.
This press release is neither an offer to sell nor a solicitation of an offer to buy securities and no recommendation is made as to whether or not holders of Old Notes should have exchanged them. The exchange offer was made only by the Prospectus and related letter of transmittal, each dated September 13, 2010, copies of which were provided to holders of the Old Notes.
Forward-Looking Statements
The information included in this press release includes forward-looking statements, within the meaning of Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, about LIN Television Corporation’s plans regarding the exchange offer for the Old Notes. LIN Television Corporation has based these forward-looking statements on its current assumptions, knowledge, expectations and projections about future events. Although LIN Television Corporation and LIN Media believe that the assumptions made in connection with the forward-looking statements are reasonable, no assurances can be given that the assumptions and expectations will prove to have been correct. These forward-looking statements are subject to various risks, uncertainties and assumptions. Neither LIN Television Corporation nor LIN Medi a undertakes any obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, unless required by applicable law. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this press release might not occur.
About LIN Media
LIN Media, along with its subsidiaries, is a local multimedia company that owns, operates or services 32 network-affiliated broadcast television stations, interactive television station and niche web sites, and mobile platforms 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.
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