TVL Lin TV Corp

LIN TV Corp. (NYSE: TVL) today announced that it is exploring a sale of its television broadcasting assets in Puerto Rico and the related cable network in the United States. Gary R. Chapman, LIN TV's Chairman, President and CEO, said "Our Puerto Rico-related businesses have been great growth engines for LIN, but as we look to the future we have decided to focus on our core business: TV stations and digital media in the continental United States. A sale of the Puerto Rico assets would allow us to utilize some of our federal net operating loss carryforwards and strengthen our balance sheet. Our Puerto Rico management team, led by General Manager and President Joe Ramos, is the best in the business and any transaction would take into account the interests of our Puerto Rico employees." There can be no assurance that LIN will enter into a transaction for the sale of these assets or, if undertaken, the terms or timing of any such transaction. LIN TV's assets in Puerto Rico include WAPA-TV, a full-power, independent station branded as Televicentro de Puerto Rico that broadcasts locally produced news and entertainment programming; WJPX-TV, a full-power, independent station programmed jointly with MTV as MTV Puerto Rico; and WAPA America, a U.S. Spanish-language cable channel launched in 2004. LIN TV's financial advisor with respect to the possible sale of these television broadcasting assets in Puerto Rico is Goldman, Sachs & Co. About LIN TV LIN TV Corp. is an owner and operator of network-affiliated television stations in mid-sized markets. Headquartered in Providence, Rhode Island, the Company operates 30 television stations in 18 markets, two of which are LMAs. LIN TV also owns approximately 20% of KXAS-TV Dallas, Texas, and KNSD-TV in San Diego, California, through a joint venture with NBC, and is a 50% non-voting investor in Banks Broadcasting, Inc., which owns KSCW-TV in Wichita, Kansas, and KNIN-TV in Boise, Idaho. Financial information and overviews of LIN TV's stations are available on the Company's website at www.lintv.com. Safe Harbor Statement This press release may include statements that may constitute "forward-looking statements," including its estimates of future business prospects or financial results or the possibility of a future sale of LIN TV's television broadcasting assets in Puerto Rico, and such sale's impact on the Company's financial results and balance sheet and statements containing the words "believe," "estimate," "project," "expect," or similar expressions. Forward-looking statements inherently involve risks and uncertainties, including, among other factors, general economic conditions, demand for advertising, competition for audience and programming, government regulations, new technologies, and the interest, if any, of third parties in acquiring LIN TV's television broadcasting assets in Puerto Rico that could cause actual results of LIN TV to differ materially from the forward-looking statements. Factors that could contribute to such differences include the risks detailed in the Company's registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this presentation.