Lin Television to Assume Management of Six Sunrise Television Stations; Gary R. Chapman, Chairman, President and CEO of LIN, Expected to Hold Same Positions at Sunrise.Business Editors PROVIDENCE, R.I. & ST. PETERSBURG, Fla.--(BUSINESS WIRE)--Jan. 7, 2002 LIN Television Corp. ("LIN") and STC STC Supplemental Type Certificate (FAA) STC Society for Technical Communication STC Subject to Change STC Surf the Channel (website) STC Sound Transmission Class STC Singapore Turf Club Broadcasting Inc. ("Sunrise") today announced that they have entered into a three-year management services agreement under which LIN will provide all oversight and reporting functions for Sunrise stations in Abilene and San Angelo, Texas San Angelo is a city in and the county seat of Tom Green CountyGR6, Texas, United States. It is also the principal city of the "San Angelo, Texas Metropolitan Statistical Area" that includes all of Irion and Tom Green county. ; Dayton, Ohio Dayton is a city in southwestern Ohio, United States. It is the county seat and largest city of Montgomery County. As of the 2005 census estimate, the population of Dayton was 158,873. ; Flint, Michigan Flint is a city in the U.S. state of Michigan and is located along the Flint River, 66 miles (106 km) northwest of Detroit. As of the 2000 census, the city had a population of 124,943, making it the fifth largest city in Michigan. It is the county seat of Genesee County6. ; Providence, Rhode Island “Providence” redirects here. For other uses, see Providence (disambiguation). Providence is the capital and the most populous city of the U.S. ; and Toledo, Ohio
LIN and Sunrise will remain separate corporate entities with no credit support between the two companies, and LIN will not incur any new or additional financial liabilities. Sunrise is currently in negotiations to sell the balance of its station portfolio, consisting of five properties in North Dakota North Dakota, state in the N central United States. It is bordered by Minnesota, across the Red River of the North (E), South Dakota (S), Montana (W), and the Canadian provinces of Saskatchewan and Manitoba (N). . Prior to the completion of the sale of the North Dakota stations, the stations will be managed by Smith Broadcasting Group, Inc. ("Smith Broadcasting"), a company controlled by Robert N. Smith, under a management services agreement with Sunrise. Financial terms of the LIN management services agreement and the Smith Broadcasting management services agreement were not disclosed. Sunrise's senior management team, other than Robert N. Smith, who has resigned as Chief Executive Officer of Sunrise, will continue to serve in their present roles with Sunrise, on a consulting basis, to provide for an orderly transition under the LIN management services agreement. Once certain regulatory approvals are received, it is anticipated that Gary R. Chapman, Chairman, President and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. of LIN, will be appointed to the same positions at Sunrise and other LIN executives will be appointed to serve as Sunrise officers. Mr. Chapman and the other LIN executives will continue to serve in their present capacities at LIN. Sunrise's headquarters will be co-located with LIN's headquarters in Providence, Rhode Island. Mr. Chapman said: "LIN Television is pleased to become associated with these fine stations in the Sunrise portfolio. Given the trend towards consolidation in the television industry, we believe that both companies will benefit from association with a larger operating group. Sunrise's previous management team is to be credited for its fine work in assembling this group of television properties." The Sunrise stations that will be managed by LIN under the management services agreement are: -- KRBC-TV, the NBC station serving Abilene, Texas; -- WDTN-TV, the ABC affiliate serving Dayton, Ohio; -- WEYI-TV, the NBC affiliate serving Flint, Michigan; -- WPRI-TV, the CBS affiliate serving Providence, Rhode Island; -- KACB-TV, the NBC affiliate serving San Angelo, Texas; and -- WUPW-TV, the Fox affiliate serving Toledo, Ohio. In addition, LIN will manage WNAC-TV, the Fox affiliate serving Providence, Rhode Island, which is currently being managed by Sunrise pursuant to a joint sales agreement; LIN already owns twelve television stations and operates six others including four under local marketing agreements, one under a management services agreement and one low-power network. LIN also owns approximately 20% of KXAS-TV in Dallas and KNSD-TV in San Diego San Diego (săn dēā`gō), city (1990 pop. 1,110,549), seat of San Diego co., S Calif., on San Diego Bay; inc. 1850. San Diego includes the unincorporated communities of La Jolla and Spring Valley. Coronado is across the bay. through a joint venture with NBC NBC in full National Broadcasting Co. Major U.S. commercial broadcasting company. It was formed in 1926 by RCA Corp., General Electric Co. (GE), and Westinghouse and was the first U.S. company to operate a broadcast network. . LIN is a 50% investor in Banks Broadcasting Banks Broadcasting is a minority-owned broadcasting company which owns one television station in the western United States. 50% of the company is owned by LIN TV, a large group broadcaster with clusters in the Northeast and Midwest and scattered stations elsewhere. , Inc., which owns KWCV-TV in Wichita and KNIN-TV in Boise. LIN also owns WNAC-TV in Providence. In connection with the transaction with Sunrise, LIN will be divesting WNAC-TV. The eighteen stations owned or managed by LIN (other than WNAC-TV) are:
Market Station DMA Channel Network LMA
Indianapolis WISH-TV 25 8 CBS
New Haven WTNH-TV 28 8 ABC WCTX/59/UPN
Grand Rapids WOOD-TV 38 8 NBC WOTV/41/ABC
WXSP 38 LPTVs UPN
Norfolk WAVY-TV 42 10 NBC WVBT/43/FOX
Buffalo WIVB-TV 47 4 CBS
WNLO-TV 47 23 Independent(b)
Austin KXAN-TV 54 36 NBC KNVA/54/WB
Decatur(a) WAND-TV 82 17 ABC
Fort Wayne WANE-TV 104 15 CBS
Springfield WWLP-TV 105 22 NBC
Lafayette WLFI-TV 190 18 CBS
San Juan WAPA-TV NA 4 Independent
WJPX-TV NA 24 Independent
(a) WAND is operated pursuant to a management services agreement (b) WNLO will become a UPN UPN User Principal Name (Microsoft Windows 2000) UPN United Paramount Network UPN Unión del Pueblo Navarro (Navarrese People Union) UPN Umgekehrte Polnische Notation affiliate in January 2003 For more information about LIN Television and its stations, please visit the company's website at www.lintv.com. |
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