TVL Lin TV Corp

LIN TV Corp. (NYSE: TVL) today announced that it has entered into a definitive agreement to acquire KASA, the FOX affiliate in Albuquerque, New Mexico, from Raycom Media, Inc. for $55 million in cash. Prior to closing, which is expected in the fourth quarter of 2006, LIN TV will operate the station pursuant to a local management agreement that will begin August 31, 2006. The acquisition of KASA, located in the 46th largest U.S. television market, is an important step in the implementation of LIN TV's multi-station strategy. By operating multiple stations in various markets, LIN TV has strengthened and diversified its audience and advertiser bases while controlling costs. In Albuquerque, LIN recently acquired KRQE, the local CBS affiliate, which produces 25 hours of local news each week, including the market's #1 late news broadcast. "We believe the addition of KASA is an excellent complement to our multi-station strategy," said Vincent L. Sadusky, LIN TV's President and Chief Executive Officer. "Albuquerque is a great market and we are excited to create a duopoly so soon after acquiring KRQE." When the KASA local marketing agreement takes effect and following completion of the acquisition, LIN TV will operate two or more stations in 10 markets: Indianapolis, Hartford-New Haven, Grand Rapids, Norfolk, Albuquerque, Buffalo, Providence, Austin, Mobile-Pensacola and Puerto Rico. LIN TV Corp. operates 30 television stations in 18 markets, two of which are LMAs. The Company owns approximately 20% of KXAS-TV in 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 KWCV-TV in Wichita, Kansas and KNIN-TV in Boise, Idaho. LIN is also a 1/3 owner of WAND-TV, the NBC affiliate in Decatur, Illinois, which it manages pursuant to a management services agreement. Financial information and overviews of LIN TV's stations are available on the Company's website at www.lintv.com.