LIN TV completes $130M sale of its stations in Puerto Rico
PROVIDENCE – LIN TV Corp. (NYSE: TVL) today announced it has completed the sale of its Puerto Rico operations to InterMedia Partners VII LP for $130 million in cash, “subject to certain adjustments.”
The transaction includes both WAPA-TV, a full-power independent station branded as MTV Puerto Rico, and the Spanish-language cable channel WAPA America.
ADVERTISEMENT
ADVERTISEMENT
LIN said it plans to use the sale proceeds to reduce its outstanding debt.
LIN TV Corp. (NYSE: TVL) owns and operates 29 television stations, plus 30 Web sites, in 17 mid-sized markets. Additional information is available at www.lintv.com.
Hattie Bryant invites you to
watch a one- to four-minute video tip each day about best business practices from
the weekly television show, Small Business School.