PROVIDENCE – The trading price of class A common stock of LIN TV Corp., a local multimedia company, increased approximately 32 percent since the announcement of LIN’s merger agreement with LIN Media LLC, a limited liability company subsidiary, the company said Wednesday.
To approve the merger of LIN into LIN Media, LIN will hold a meeting of stockholders on July 30.
The increase in price of class A stocks may cause LIN’s board of directors to defer the finalization of the merger, a possibility LIN has informed its stockholders of. There remains the possibility that the merger will be cancelled completely.
The merger agreement would benefit LIN by reducing a part, or the entirety, of a $573 million capital gain that resulted from the sale of a minority interest in a joint venture in February.