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Wednesday, November 30, 2005

LIN TV - Becoming Indiana's Real News Center


WANE and WISH PARENT COMPLETES ACQUISITION OF
TERRE HAUTE STATION FROM EMMIS
TODAY

LIN picks up the WTHI 10 television station in Terre Haute along with two other stations from Emmis Communications. That gives LIN a presence in four markets across Indiana.

LIN already owns WISH TV in Indianpolis, WANE TV in Fort Wayne, and WLFI TV in Lafayette, Indiana. All four of the Indiana stations are CBS affiliates.

Unlike Fort Wayne rival Granite Broadcasting, LIN has had a strong financial performance in the past year. Granite is struggling under a huge load of debt.
[T]oday, LIN TV Corp completed its purchase of WALA-TV (Ch. 10, Fox affiliate) in Mobile, Ala./Pensacola, Fla.; WTHI-TV (Ch. 10, CBS affiliate) in Terre Haute, Ind.; WLUK-TV (Ch. 11, Fox affiliate) in Green Bay, Wis.; and KRQE-TV (Ch. 13, CBS affiliate) in Albuquerque, New Mexico, plus regional satellite stations. Because FCC license renewal is still pending, a fifth station, WBPG-TV (Ch. 55, WB affiliate) in Mobile, Ala./Pensacola, Fla., will be operated under a Local Programming and Marketing Agreement, which begins today. The sale price for the five stations is $260 million.
Emmis is divesting itself of many of its television properties. Of the other transactions announced late today, Gray Television is picking up a station from Emmis. Gray, it was announced earlier this week, is acquiring WNDU-TV in South Bend, Indiana.

Emmis Communication is based in Indianapolis, Indiana. LIN TV Corp. is based in Providence, Rhode Island.

Comments:
I don't think you are being fair Mitch, I mean Granite stock is up to 22 cents today while LIN is up to 13.08
 
I really think Granite messed up buying WISE 33. I don't think it was such a WISE move. More competition is always better. The new lighting on 21 Alive News..uh I mean Indiana's Newscenter is great, but that's about the only improvement I've seen so far. Fort Wayne TV News is and always has been about 10 to 15 years behind Indianapolis and the rest of the industry.
 
Tim,
It's all about money. The technology is not behind in the Fort. But stations spend a lot more money in Indy because they make more money.
 
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