Projo Biz Blog

LIN TV Corp. of Providence will maintain the status quo – at least for now.

LIN (NYSE: TVL) said that its board of directors “has concluded its review of strategic alternatives,’’ which began earlier this year.

“The Company does not expect to make further public comments with respect to this announcement and reserves the right to explore strategic alternatives in the future without making a public announcement,’’ the company said in a statement.

Vincent L. Sadusky, the company’s president and chief executive officer, said in the statement, “The LIN TV Board and management team have confidence in our employees, high quality assets and operating plan. The strength of our core business and new digital initiatives position us well for future growth.”

In May, LIN announced the hiring of JP Morgan Chase & Co. as part of a review of LIN’s strategic alternatives, including the sale of the company. At the time, LIN stressed that it was unable to predict if the review of would result in any transaction.

LIN stock closed today at $11.18, up 48 cents a share. Today's announcement came after the close of trading.

LIN’s operations include Channel 12, WPRI-TV, a CBS network affiliate.

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