Gary R. Chapman, LIN TV's Chairman, President and Chief Executive Officer, said: "Vince Sadusky is a proven financial executive in the television industry and we are thrilled that he will be joining LIN TV as our new Chief Financial Officer. We believe that his expertise and experience at Telemundo are an excellent fit with our company. We look forward to his leadership of our financial organization at this important time for LIN TV and the broadcasting industry."
Mr. Sadusky said: "I am thrilled to have the opportunity to join the LIN TV senior management team. Under Gary Chapman's innovative leadership, the company has assembled a great group of stations and developed an operating strategy that I believe will serve the company well in any regulatory or economic climate. Additionally, the steps LIN has taken in recent years to improve its capital structure position the company to pursue a number of attractive growth opportunities."
LIN TV also announced that Deborah R. Jacobson, who has served as Vice President, Corporate Development and Treasurer since 1995, has resigned from her positions, effective August 13, 2004.
Mr. Chapman added: "We are grateful to Deb Jacobson for her important contributions to LIN TV during the past nine years. Our company has evolved considerably during that period and Deb's financial and strategic expertise have been important elements of our success."
Mr. Sadusky had been an integral member of Telemundo's management team for more than 10 years, joining the Company as Vice President, Finance and was promoted to his current position in 1999. Vince made significant contributions to Telemundo's growth and success, including the historic merger of Telemundo with NBC in 2001. Prior to joining Telemundo, he was an Audit Manager with Ernst & Young, LLC. Mr. Sadusky received his BS in accounting from Penn State University where he was a University Scholar, an MBA from the New York Institute of Technology, and is a Certified Public Accountant.
About LIN TV
LIN TV operates 23 television stations in 13 markets, two of which are LMAs. LIN TV also owns approximately 20% of KXAS-TV in Dallas, Texas and KNSD-TV in San Diego, California through a joint venture with NBC, and is a 50% non-voting investor in Banks Broadcasting, Inc., which owns KWCV-TV in Wichita, Kansas and KNIN-TV in Boise, Idaho.
Financial information and overviews of LIN TV's stations are available on the Company's website at www.lintv.com.
Safe Harbor Statement
This press release may include statements that may constitute "forward-looking statements," including estimates of future business prospects or financial results and statements containing the words "believe," "estimate," "project," "expect," or similar expressions. Forward-looking statements inherently involve risks and uncertainties, including, among other factors, general economic conditions, demand for advertising, the war in Iraq or other geopolitical events, competition for audience and programming, government regulations and new technologies, that could cause actual results of LIN TV to differ materially from the forward-looking statements. Factors that could contribute to such differences include the risks detailed in the Company's registration statements and periodic reports filed with the Securities and Exchange Commission. By making these forward-looking statements, the Company undertakes no obligation to update these statements for revision or changes after the date of this release.