EX-99.1 2 d22067exv99w1.htm PRESS RELEASE exv99w1
 

Exhibit 99.1

(LIN TELEVISION CORPORATION LOGO)

         
Contacts:
  Investors:   Media:
  Vincent L. Sadusky   Mark Semer
  Chief Financial Officer   Kekst and Company
  401-457-9403   212-521-4802

LIN TV Corp.’s Subsidiary Completes Sale of $175 Million
of 6½% Senior Subordinated Notes Due 2013

Providence, R.I. – January 28, 2005 – LIN TV Corp. (NYSE: TVL) today announced that its wholly owned subsidiary LIN Television Corporation completed its sale of $175 million aggregate principal amount of its 6½% Senior Subordinated Notes due 2013 (the “Notes”) in a previously announced private placements. The Notes are expected to be resold by the initial purchasers to qualified institutional buyers under Rule 144A of the Securities Act of 1933, as amended (the “Securities Act”), and outside of the United States in accordance with Regulation S under the Securities Act.

The Notes are guaranteed by LIN TV Corp. and certain of LIN Television Corporation’s subsidiaries, and are additional securities under the indenture pursuant to which LIN Television Corporation issued $200 million aggregate principal amount of Notes in May 2003. It is intended that the proceeds from the sale of the Notes will be used to repurchase or redeem approximately $166.4 million principal amount of LIN Television Corporation’s 8% Senior Notes due 2008.

The Notes have not been registered under the Securities Act or any state securities laws and may not be offered or sold in the United States absent registration or an applicable exemption from registration requirements.

Forward Looking Statements

This announcement includes forward-looking statements, including LIN Television Corporation’s plans regarding the repurchase or redemption of the 8% Senior Notes due 2008. LIN Television Corporation has based these forward-looking statements on its current expectations and projections about future events. Although LIN Television Corporation believes that its assumptions made in connection with the forward-looking statements are reasonable, no assurances can be given that its assumptions and expectations will prove to have been correct. These forward-looking statements are subject to various risks, uncertainties and assumptions. LIN Television Corporation undertakes no obligation to publicly update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. In light of these risks, uncertainties and assumptions, the forward-looking events discussed in this announcement might not occur.