LIN TV buys $121.7 million of its 6½% senior notes for $68.4 million during first quarter

By Devika Patel

Knoxville, Tenn., April 30 - LIN TV Corp. voluntarily repurchased $121.7 million of its 6½% senior subordinated notes and its 6½% senior subordinated notes, class B, for $68.4 million during the fourth quarter, according to a company earnings report.

The repurchases resulted in a pre-tax gain of $50.1 million.

Cumulatively, under its repurchase plan, the company purchased $147.8 million, or 26%, of the notes at an average discount of 45.4%, thereby extinguishing $67.1 million of net debt.

LIN TV is a Providence, R.I.-based local television and digital media company.

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