LIN Media combined with LIN TV to “resolve the...
LIN Media combined with LIN TV to “resolve the NBC” joint venture (CD July 25 p25) “guarantee and tax overhangs that have in recent years limited its strategic options,” said the broadcaster in a news release after regular U.S. markets…
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closed Tuesday (http://bit.ly/18N0Bc1). LIN Media is “the surviving company in the merger” and now trades on the New York Stock Exchange under the ticker symbol “LIN,” said the company: “As a result of the capital losses generated from this transaction,” LIN will realize cash income tax savings of about $115 million. With the joint venture with NBC “completely dissolved,” LIN may become “fully engaged on either side of the M&A discussion,” wrote analyst Marci Ryvicker of Wells Fargo to investors about mergers and acquisitions. LIN stock closed up 8.4 percent to $16.15 on Wednesday.