LIN TV (TVL) at Front of the Line for Consolidation in Broadcast Market -Gabelli
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Gabelli & Co. maintains a Buy rating on LIN TV (NYSE: TVL). The firm has a private market value of $25 on the stock.
The firm believes that TV broadcasters are positioned better than other forms of traditional media given the line of new revenues approaching and "the fact that TV viewing patterns have not materially changed." Gabelli feels LIN TV will restart reviews for strategic alternatives (which were terminated on December 6) after credit markets recover.
Notably, Gabelli points out that "too many" broadcasters have market caps that are too small, and believes this could create an environment that is "ripe for consolidation." The firm calls LIN TV and Nexstar (Nasdaq: NXST) "at the front of the line" for this process.
LIN TV Corp., together with its subsidiaries, operates as a local television and digital media company in the United States.
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