Exhibit 99.1
| FOR IMMEDIATE RELEASE
Contacts: Courtney Guertin, Corporate Communications Manager 401-457-9501 courtney.guertin@linmedia.com
Richard Schmaeling, Senior Vice President and Chief Financial Officer 401-457-9510 richard.schmaeling@linmedia.com |
LIN Media Announces LIN Television Corporation’s
Exchange Offer for its 63/8% Senior Notes due 2021
PROVIDENCE, R.I. — April 3, 2013 — LIN TV Corp. (“LIN Media”; NYSE:TVL), a local multimedia company, today announced that its wholly owned subsidiary, LIN Television Corporation, has commenced an offer to exchange all of LIN Television Corporation’s outstanding 63/8% Senior Notes due 2021 issued October 12, 2012 (“Old Notes”) for new 63/8% Senior Notes due 2021 (the “New Notes”) registered under the Securities Act of 1933, as amended (“Securities Act”). The Old Notes were issued in a private placement pursuant to Rule 144A and Regulation S under the Securities Act.
Terms of the New Notes will be identical in all material respects to the terms of the Old Notes, except that the transfer restrictions applicable to the Old Notes will not apply to the New Notes, except in limited circumstances, and the New Notes will not have rights to additional interest or registration rights.
The exchange offer will expire at 5:00 p.m., New York City time, on April 30, 2013, unless extended by LIN Television Corporation. Tenders of Old Notes must be made before the exchange offer expires and may be withdrawn at any time before the exchange offer expires.
The completion of the exchange offer is subject to certain conditions described in the Prospectus dated April 3, 2013 (“Prospectus”), including the continued effectiveness of the registration statement on Form S-4 relating to the exchange offer which has been filed with the Securities and Exchange Commission.
LIN Television Corporation has retained The Bank of New York Mellon Trust Company, N.A. to act as exchange agent for the exchange offer. Requests for copies of the Prospectus and related letter of transmittal, as well as any questions concerning the exchange offer, should be directed to The Bank of New York Mellon Trust Company, N.A., c/o The Bank of New York Mellon, Corporate Trust Operations—Reorganization Unit, 111 Sanders Creek Parkway, East Syracuse, NY 13057, attn: Mr. Adam DeCapio, telephone (315) 414-3360, facsimile (732) 667-9408.
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 exchange them. The exchange offer is made only by the Prospectus and related letter of transmittal, copies of which are being 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 Media 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 is a local multimedia company that operates or services 43 television stations and seven digital channels in 23 U.S. markets, along with a diverse portfolio of web sites, apps and mobile products that make it more convenient to access its unique and relevant content on multiple screens.
LIN Media’s highly-rated television stations deliver important local news and community stories along with top-rated sports and entertainment programming to 10.5% of U.S. television homes. The Company’s digital media operations focus on emerging media and interactive technologies that deliver performance-driven digital marketing solutions to some of the nation’s most respected agencies and brands. LIN TV Corp. is traded on the NYSE under the symbol “TVL”. Financial information about the company is available at www.linmedia.com .
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