Lin Broadcasting Corp.: The New York-based firm...
From Times Staff and Wire Reports
Lin Broadcasting Corp.: The New York-based firm engaged in the cellular phone, TV broadcasting and specialty publishing businesses had a first-quarter net loss of $180.8 million, contrasted with net earnings of $20.2 million a year ago. Included in the loss are nonrecurring charges of $292.9 million, which are attributable to Lin’s obligations arising from the completion of McCaw Cellular Communication Inc.’s tender offer for 21.9 million shares of Lin’s stock. The firm’s revenue rose 17% to a record $61.7 million.
