Discontinued Operations - LIN Television

3 Months Ended

Mar. 31, 2012

Discontinued Operations

Note 3—Discontinued Operations

WWHO-TV

On February 16, 2012, we completed the sale of substantially all of the assets of WWHO-TV, our CW affiliate serving Columbus, OH, to Manhan Media, Inc.  As of March 31, 2012, no amounts related to WWHO-TV were classified as assets or liabilities held for sale on our consolidated balance sheet.  During the three months ended March 31, 2012, we recorded a loss on the sale of WWHO-TV of $0.4 million.

WUPW-TV

On January 3, 2012, we entered into an agreement for the sale of substantially all of the assets of WUPW-TV to WUPW, LLC.  Accordingly, as of December 31, 2011, we classified certain assets and liabilities associated with this station as held for sale on our consolidated balance sheets, and the operating results as discontinued operations in our consolidated statement of operations. We completed the sale of substantially all of the assets of WUPW-TV on April 21, 2012.

The carrying amounts of the assets and liabilities of this station were as follows (in thousands):

	March 31, 2012		December 31, 2011
ASSETS
Current assets:
Accounts receivable, net	$	1,354	$	1,921
Program rights	160		203
Other current assets	9		12
Total current assets	1,523		2,136
Property and equipment, net	1,614		1,614
Program rights	72		108
Broadcast licenses and other intangible assets, net	2,049		2,049
Total assets	$	5,258	$	5,907
LIABILITIES
Current liabilities:
Accounts payable	$	947	$	947
Accrued expenses	263		398
Program obligations	306		330
Total current liabilities	1,516		1,675
Program obligations	75		109
Total liabilities	$	1,591	$	1,784

The following presents summarized information for the discontinued operations as follows (in thousands):

	Three Months Ended March 31,
	2012									2011
	WWHO- TV			WUPW- TV			Total			WWHO- TV			WUPW- TV		Total
Net revenues	$	486		$	1,775		$	2,261		$	1,063		$	1,857	$	2,920
Operating (loss) income	$	(409	)	$	(1,109	)	$	(1,518	)	$	(233	)	$	197	$	(36	)
Net (loss) income	$	(562	)	$	(669	)	$	(1,231	)	$	(151	)	$	126	$	(25	)

LIN Television Corporation

Discontinued Operations

Note 3—Discontinued Operations

WWHO-TV

On February 16, 2012, we completed the sale of substantially all of the assets of WWHO-TV, our CW affiliate serving Columbus, OH, to Manhan Media, Inc.  As of March 31, 2012, no amounts related to WWHO-TV were classified as assets or liabilities held for sale on our consolidated balance sheet.  During the three months ended March 31, 2012, we recorded a loss on the sale of WWHO-TV of $0.4 million.

WUPW-TV

On January 3, 2012, we entered into an agreement for the sale of substantially all of the assets of WUPW-TV to WUPW, LLC.  Accordingly, as of December 31, 2011, we classified certain assets and liabilities associated with this station as held for sale on our consolidated balance sheets, and the operating results as discontinued operations in our consolidated statement of operations. We completed the sale of substantially all of the assets of WUPW-TV on April 21, 2012.

The carrying amounts of the assets and liabilities of this station were as follows (in thousands):

	March 31, 2012		December 31, 2011
ASSETS
Current assets:
Accounts receivable, net	$	1,354	$	1,921
Program rights	160		203
Other current assets	9		12
Total current assets	1,523		2,136
Property and equipment, net	1,614		1,614
Program rights	72		108
Broadcast licenses and other intangible assets, net	2,049		2,049
Total assets	$	5,258	$	5,907
LIABILITIES
Current liabilities:
Accounts payable	$	947	$	947
Accrued expenses	263		398
Program obligations	306		330
Total current liabilities	1,516		1,675
Program obligations	75		109
Total liabilities	$	1,591	$	1,784

The following presents summarized information for the discontinued operations as follows (in thousands):

	Three Months Ended March 31,
	2012									2011
	WWHO- TV			WUPW- TV			Total			WWHO- TV			WUPW- TV		Total
Net revenues	$	486		$	1,775		$	2,261		$	1,063		$	1,857	$	2,920
Operating (loss) income	$	(409	)	$	(1,109	)	$	(1,518	)	$	(233	)	$	197	$	(36	)
Net (loss) income	$	(562	)	$	(669	)	$	(1,231	)	$	(151	)	$	126	$	(25	)