1
EXHIBIT 12.1
LIN TELEVISION CORPORATION AND LIN HOLDINGS CORP.
COMPUTATION OF RADIO OF EARNINGS TO FIXED CHARGES
(in thousands)
Holdings Company Predecessor
Period from Period from Period from Predecessor Pro Forma
March 3 March 3 January 1 Three Months Quarter Ended
through through through Ended March 31, 1998
March 31, March 31, March 2, March 31, -----------------------
1998 1998 1998 1997 Company Holdings
----------- ------------ ----------- ---------- --------- ---------
Earnings:
Net income(loss) before income taxes $ (3,444) $ (1,709) $ 966 $ 11,383 $(10,550) $(16,298)
Fixed charges 5,329 3,594 3,022 6,017 10,837 16,585
Joint venture losses 462 462 244 403 2,180 2,180
-------- -------- -------- -------- -------- --------
Earnings as adjusted (A) $ 2,347 $ 2,347 $ 4,232 $ 17,803 $ 2,467 $ 2,467
======== ======== ======== ======== ======== ========
Fixed Charges:
Interest expense $ 5,270 $ 3,535 $ 2,764 $ 5,718 $ 10,646 $ 16,394
Rent expense 59 59 258 299 191 191
-------- -------- -------- -------- -------- --------
Fixed Charges as adjusted (B) $ 5,329 $ 3,594 $ 3,022 $ 6,017 $ 10,837 $ 16,585
======== ======== ======== ======== ======== ========
Ratio of earnings to fixed charges
(A) divided by (B) 0.4 0.7 1.4 3.0 0.2 0.1
Deficiency of earnings to fixed charges $ (2,982) $ (1,247) $ 1,210 $ 11,786 $ (8,370) $(14,118)
Pro Forma
Year Ended
December 31, 1997
-----------------------
Company Holdings
------- ---------
Earnings:
Net income(loss) before income taxes $(35,184) $(56,900)
Fixed charges 43,959 65,675
Joint venture losses 4,989 4,989
-------- --------
Earnings as adjusted (A) $ 13,764 $ 13,764
======== ========
Fixed Charges:
Interest expense $ 43,112 $ 64,828
Rent expense 847 847
-------- --------
Fixed Charges as adjusted (B) $ 43,959 $ 65,675
======== ========
Ratio of earnings to fixed charges (A) divided by (B) 0.3 0.2
Deficiency of earnings to fixed charges $(30,195) $(51,911)
Year Ended December 31,
------------------------------------------------------------
1997 1996 1995 1994 1993
------- -------- ------- -------- --------
Earnings:
Net income(loss) before income taxes $ 78,709 $ 72,937 $ 59,704 $ 50,911 $ 39,370
Fixed charges 22,538 27,826 27,262 14,651 14,278
Joint venture losses 1,532 995 -- -- --
-------- -------- -------- -------- --------
Earnings as adjusted (A) $102,779 $101,758 $ 86,966 $ 65,562 $ 53,648
======== ======== ======== ======== ========
Fixed Charges:
Interest expense $ 21,340 $ 26,582 $ 26,262 $ 13,451 $ 13,678
Rent expense 1,198 1,244 1,000 1,200 600
-------- -------- -------- -------- --------
Fixed Charges as adjusted (B) $ 22,538 $ 27,826 $ 26,262 $ 14,651 $ 14,278
======== ======== ======== ======== ========
Ratio of earnings to fixed charges (A) divided by (B) 4.6 3.7 3.2 4.5 3.8
Deficiency of earnings to fixed charges $ -- $ -- $ -- $ -- $ --