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LIN TV Corp. Message Board

  • lakeviewave lakeviewave Nov 15, 2012 9:59 AM Flag

    The Fundamental Issue

    The messages under "Damn JV" of November 12th miss the essence of Lin. The real controlling shareholders [HM Capital & Carson Private Capital], well represented by Lin's Board, don't care about the general shareholders even those as large as the Gabelli interests. Look up Young Broadcasting and Granite Broadcasting both bankrupt TV operators for historical proof of Gabelli and others riding those two investments to zero. As a long retired financial executive of John Blair and Company (once a NYSE media company) taken over by Saul Steinberg and Reliance Holdings, and later as a consultant to Providence based Outlet Communications which was shaped up by WESRAY and sold at a good profit for all shareholders, I understand TVL's business well. At least David Smith and the Smith's at Sinclair Broadcasting are doing some things for the average shareholders even though they also control it and don't have to care for the other stockholders.

    If TVL were to aggressively buy back its stock or at least pay a token dividend, I might response more favorable. As to outsmarting the Roberts family and the Comcast Company in the Fort Worth TV station joint venture, don't bet on it. TIMH

 

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