1
EXHIBIT 12.1
LIN HOLDINGS CORP. AND LIN TELEVISION CORPORATION
COMPUTATION OF RATIO OF EARNINGS TO FIXED CHARGES
(IN THOUSANDS)
The ratios of earnings to fixed charges for the years ended December 31, 1996
and 1997 are derived from audited consolidated financial statements of the
predecessor business that are not presented in this Registration Statement. The
ratios of earnings to fixed charges for the period from January 1, 1998 to March
2, 1998 are derived from audited consolidated financial statements of the
predecessor business that appear elsewhere in this Registration Statement. The
ratios of earnings to fixed charges for the period from March 3, 1998 to
December 31, 1998 and for the years ended December 31, 1999 and 2000 are derived
from audited consolidated financial statements that appear elsewhere in this
Registration Statement. The ratios of earnings to fixed charges for the six
months ended June 30, 2001 are derived from unaudited consolidated financial
statements that appear elsewhere in this Registration Statement.
<Table>
<Caption>
Predecessor LIN Television Corporation and subsidiaries
-------------------------------------------- ---------------------------------------------------
Period from Six months
Year ended Year ended Period from March 3- Year ended Year ended ended
December 31, December 31, January 1-March 2, December 31, December 31, December 31, June 30,
1996 1997 1998 1998 1999 2000 2001
------------ ------------ ----------------- ------------ ------------ ------------ ----------
Earnings:
Income (loss) before taxes
and extraordinary item ..... $ 72,937 $ 78,709 $ 966 $ (12,912) $ (13,691) $ (6,871)$ (23,225)
Add: Share of (income) loss
in equity investments ...... 995 1,532 244 6,037 5,488 (365) 1,254
Add: Capital distributions
from equity investments .... -- -- -- -- -- 815 6,419
------------ ------------ ----------------- ------------ ------------ ------------ ----------
subtotal ................... 73,932 80,241 1,210 (6,875) (8,203) (6,421) (15,552)
Fixed Charges:
Reported interest expense .... 26,582 21,340 2,764 35,577 45,315 67,126 33,987
Loss on financial
instruments ................ -- -- -- -- -- -- (1,982)
------------ ------------ ----------------- ------------ ------------ ------------ ----------
subtotal ................... 26,582 21,340 2,764 35,577 45,315 67,126 32,005
Earnings before income taxes
and fixed charges .......... 100,514 101,581 3,974 28,702 37,112 60,705 16,453
============ ============ ================= ============ ============ ============ ==========
Ratio of earnings to
fixed charges .............. 3.8x 4.8x 1.4x -- -- -- --
</Table>
<Table>
<Caption>
Predecessor LIN Holdings Corp. and subsidiaries
-------------------------------------------- ---------------------------------------------------
Period from Six months
Year ended Year ended Period from March 3- Year ended Year ended ended
December 31, December 31, January 1-March 2, December 31, December 31, December 31, June 30,
1996 1997 1998 1998 1999 2000 2001
------------ ------------ ----------------- ------------ ------------ ------------ ----------
Earnings:
Income (loss) before taxes
and extraordinary item ..... $ 72,937 $ 78,709 $ 966 $ (30,911) $ (37,065) $ (32,613)$ (37,416)
Add: Share of (income) loss
in equity investments ...... 995 1,532 244 6,037 5,488 (365) 1,254
Add: Capital distributions
from equity investments .... -- -- -- -- -- 815 6,419
------------ ------------ ----------------- ------------ ------------ ------------ ----------
subtotal ................... 73,932 80,241 1,210 (24,874) (31,577) (32,163) (29,743)
Fixed Charges:
Reported interest expense .... 26,582 21,340 2,764 53,576 68,689 92,868 48,178
Loss on financial
instruments ................ -- -- -- -- -- -- (1,982)
------------ ------------ ----------------- ------------ ------------ ------------ ----------
subtotal ................... 26,582 21,340 2,764 53,576 68,689 92,868 46,196
Earnings before income taxes
and fixed charges .......... 100,514 101,581 3,974 28,702 37,112 60,705 16,453
============ ============ ================= ============ ============ ============ ==========
Ratio of earnings to
fixed charges .............. 3.8x 4.8x 1.4x -- -- -- --
</Table>
LIN Television Corporation's earnings were insufficient to cover fixed charges
by $6.9 million, $8.2 million, $6.4 million and $15.6 million for the period
from March 3, 1998 to December 31, 1998, for the fiscal years ended 1999 and
2000 and for the six-month period ended June 30, 2001, respectively. LIN
Holdings Corp.'s earnings were insufficient to cover fixed charges by $24.9
million, $31.6 million, $32.2 million and $29.7 million for the period from
March 3, 1998 to December 31, 1998, for the fiscal years ended 1999 and 2000 and
for the six-month period ended June 30, 2001, respectively.