Schedule I—Condensed Financial Information of the Registrant

LIN Media LLC

Condensed Balance Sheets



	Year Ended December 31,
	2013			2012
	(in thousands, except share data)
ASSETS
Advances to consolidated subsidiaries	$	1,900		$	—
Investment in consolidated subsidiaries	87,227			—
Total assets	$	89,127		$	—
LIABILITIES AND SHAREHOLDERS' EQUITY (DEFICIT)
Liabilities:
Accumulated losses in excess of investment in consolidated subsidiaries	$	—		$	91,564
Shareholders' equity (deficit):
Class A common shares, 100,000,000 shares authorized, Issued: 39,013,005 and 35,672,528 shares as of December 31, 2013 and 2012, respectively, Outstanding: 34,065,346 and 30,724,869 shares as of December 31, 2013 and 2012, respectively ^(a)	624,564			313
Class B common shares, 50,000,000 shares authorized, 20,901,726 and 23,401,726 shares as of December 31, 2013 and 2012, respectively, issued and outstanding; convertible into an equal number of shares of class A or class C common shares ^(a)	518,395			235
Class C common shares, 50,000,000 shares authorized, 2 shares as of December 31, 2013 and 2012, issued and outstanding; convertible into an equal number of shares of class A common shares	—			—
Treasury shares, 4,947,659 of class A common shares as of December 31, 2013 and 2012, at cost	(21,984		)	(21,984		)
Additional paid-in capital ^(a)	—			1,129,691
Accumulated deficit	(1,006,322		)	(1,164,435		)
Accumulated other comprehensive loss	(25,526		)	(35,384		)
Total shareholders' equity (deficit)	89,127			(91,564		)
Total liabilities and LIN Media LLC shareholders' equity	$	89,127		$	—

____________________________________________________

^(a)In conjunction with the Merger of LIN TV with and into LIN LLC on July 30, 2013, LIN Media LLC was deemed the successor reporting entity to LIN TV. As such, the additional paid-in capital amount within LIN LLC's shareholders' equity as of December 31, 2013 has been allocated to the Class A and B share balances to conform to LIN LLC's basis of presentation as a limited liability company. For purposes of LIN TV's shareholders' deficit balance as of December 31, 2012, LIN TV's class A, B and C common shares had a par value of $0.01 per share that is not reflected as of December 31, 2013, as each share represents a limited liability interest in LIN Media LLC.

LIN Media LLC

Condensed Statements of Operations



	Year Ended December 31,
	2013			2012			2011
	(in thousands, except per share data)
Net Revenues	$	—		$	—		$	—
Operating expenses:
Corporate	709			—			—
Operating loss	(709		)	—			—
Other income:
Intercompany income	(20		)	—			—
Total other income	(20		)	—			—
Loss from continuing operations before taxes and equity in income (loss) from operations of consolidated subsidiaries	(689		)	—			—
Net loss from continuing operations	(689		)	—			—
Equity in income (loss) from operations of consolidated subsidiaries	158,802			(7,045		)	48,577
Net income (loss) attributable to LIN Media LLC	$	158,113		$	(7,045	)	$	48,577
Basic income (loss) per common share attributable to LIN Media LLC	$	3.02		$	(0.13	)	$	0.87
Diluted income (loss) per common share attributable to LIN Media LLC	$	2.84		$	(0.13	)	$	0.85
Weighted-average number of common shares outstanding used in calculating basic income per common share	52,439			54,130			55,768
Weighted-average number of common shares outstanding used in calculating diluted income per common share	55,639			54,130			57,079

LIN Media LLC

Condensed Statements of Comprehensive Income (Loss)



	Year Ended December 31,
	2013		2012			2011
	(in thousands)
Net income (loss) attributable to LIN Media LLC	$	158,113	$	(7,045	)	$	48,577
Pension net gain, net of tax of $5,705, $1,523 and $(7,291) for the years ended December 31, 2013, 2012 and 2011, respectively	8,738		2,424			(11,212		)
Amortization of pension net losses, net of tax of $734, $609 and $379 for the years ended December 31, 2013, 2012 and 2011, respectively	1,120		969			374
Comprehensive income (loss) attributable to LIN Media LLC	$	167,971	$	(3,652	)	$	37,739

LIN Media LLC

Condensed Statements of Cash Flows



	Year Ended December 31,
	2013			2012		2011
	(in thousands)
OPERATING ACTIVITIES:
Net cash used in operating activities	$	(589	)	$	—	$	—
INVESTING ACTIVITIES:
Receipt of dividend	2,000			—		—
Advances to consolidated subsidiaries	(2,000		)	—		—
Net cash provided by investing activities	—			—		—
FINANCING ACTIVITIES:
Net proceeds from exercises of employee and director stock-based compensation	589			—		—
Net cash provided by financing activities	589			—		—
Net change in cash and cash equivalents	—			—		—
Cash and cash equivalents at the beginning of the period	—			—		—
Cash and cash equivalents at the end of the period	$	—		$	—	$	—

1. Background and Basis of Presentation

LIN Media LLC (“LIN LLC”) has no material assets or operations other than its ownership in LIN Television Corporation (“LIN Television”) and its subsidiaries. Certain covenants within LIN Television's Senior Secured Credit Facility limit its ability to distribute funds to LIN LLC in the form of dividends, loans or advances. Accordingly, these condensed financial statements of LIN LLC have been presented on a "Parent Only" basis. The condensed parent company financial statements should be read in conjunction with the consolidated financial statements and notes of LIN LLC included in this Annual Report on Form 10-K.