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Local Broadcast Company LIN TV Buys Online Ad Firm Red McCombs For $7.9 Million

Lin TV, the local TV affiliate company that owns about 27 stations in U.S., has acquired Red McCombs Media, an online advertising and media services startup based in Austin, Texas, for $7.9 million. The price includes $1.2 million cash, $4.5 million in common stock and about $2.2 million in an unsecured promissory note, reports BizJournals.With this, Lin can offer its clients services such as targeted display, rich media, video advertising, custom-built vertical channels, search engine marketing, search engine optimization, and mobile marketing, it says. RM Media was founded in 2004, and merged with Red McCombs in 2005. As far as we know, this is the first digital acquisition by Lin. More details in release.