New Suitor Ups Ante For Lin Television

LIN Television Corp. is in talks with another suitor who is offering a richer buyout than a $1.7 billion agreement the company has with takeover firm Hicks, Muse, Tate & Furst Inc.

LIN shares jumped 9 percent Thursday after the company disclosed the higher bid.

LIN, which owns or operates 12 television stations, would not disclose the value of the latest bid. The company said there is no guarantee it will accept the offer.

Deb Jacobsen, LIN’s vice president and treasurer, would not disclose what type of company made the offer, citing a confidentiality agreement imposed by the bidder. Jacobsen said she expects the review to move quickly.

A Hicks spokesman said he had no comment.

The Hicks offer was worth $47.50 a share in cash.