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                                                                  EXHIBIT 10.29

SEVERANCE COMPENSATION AGREEMENT dated as of September 5, 1996, between LIN
Television Corporation, a Delaware corporation (the "Company"), and Gregory M.
Schmidt (the "Executive").

      WHEREAS the Company currently employs the Executive and has determined
that the Executive's services are important to the stability and continuity of
the management of the Company;

      WHEREAS the Company has determined that it is in its best interest to
reinforce and encourage the Executive's continued disinterested attention and
undistracted dedication to the Executive's duties in the potentially disturbing
circumstances of a possible change in control of the Company by providing some
degree of personal financial security; and

      WHEREAS to induce the Executive to remain in the employ of the Company,
the Company has determined that it is desirable to pay the Executive the
severance compensation set forth below if the Executive's employment with the
Company terminates in one of the circumstances described below following a
change in control of the Company;

      NOW, THEREFORE, in consideration of the premises and the mutual covenants
contained in this Agreement, it is agreed upon between the Company and the
Executive as follows:

I.    DEFINITIONS. In addition to other words and terms defined elsewhere in in
      this Agreement, the following words and terms shall have the following
      meanings:

      A.    "Cause"  shall mean:

            1.    the willful and continued failure of Executive to perform
                  substantially Executive's duties with the Company (other than
                  any such failure resulting from incapacity due to physical or
                  mental illness), after a written demand for substantial
                  performance is delivered to Executive by the Board or an
                  elected officer of the Company which specifically identifies
                  the manner in which the Board or the elected officer believes
                  that Executive has not substantially performed Executive's
                  duties; or

            2.    (A) the conviction of, or plea of nolo contendre to, a felony
                  or (B) the willful engaging by Executive in gross misconduct
                  which is materially and demonstrably injurious to the Company;

            in each case above, after Executive is provided an opportunity to be
            heard upon 30 days written notice and a good faith determination of
            Cause by at least 3/4 of the Disinterested Directors.

      B.    "Change in Control" shall mean any of the following events:

            1.    any "person" (as defined in Section 3(a)(9) of the Securities
                  Exchange Act of 1934, as amended (the "Act") and as used in
                  Sections 13(d) and 14(d) thereof, including a "group" (as
                  defined in Section 13(d) of the Act) but excluding AT&T, the
                  Company, any subsidiary thereof and any trustee or fiduciary
                  on behalf of any Company Executive benefit plan) becomes the
                  "beneficial owner" (as defined in Rule 13d-3 under the Act) of
                  securities of the Company having at least 25% of the voting
                  power of the Company's then outstanding securities (unless the
                  event causing the 25% threshold to be crossed is an
                  acquisition of 



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                  securities directly from the Company) but only if at the time
                  of such person becoming the beneficial owner of the requisite
                  voting power, AT&T designees no longer hold a majority of the
                  seats on the Board of Directors; or

            2.    the shareholders of the Company shall approve any merger or
                  other business combination of the Company, any sale of all or
                  substantially all of the Company's assets in one or a series
                  of related transactions or any combination of the foregoing
                  transactions (the "TRANSACTIONS"), other than a Transaction
                  immediately following which the shareholders of the Company
                  immediately prior to the Transaction (including AT&T), any
                  subsidiary thereof and any trustee or fiduciary on behalf of
                  any Company Executive benefit plan own greater than 50% of the
                  voting securities of the surviving company (or its parent)
                  (and, in a sale of assets, of the purchaser of the assets)
                  immediately following the Transaction; provided, however, that
                  a Transaction which would otherwise not result in a Change in
                  Control because of the resulting ownership of more than 50% of
                  the voting securities of the surviving company, its parent, or
                  a purchaser of the assets will, nonetheless, be deemed to be a
                  Change in Control but only in connection with a termination
                  for Good Reason under Section 1(d)(iv); or

            3.    within any 24 month period, the persons who were directors
                  immediately before the beginning of such period (the
                  "DISINTERESTED DIRECTORS") shall cease (for any reason other
                  than death) to constitute at least a majority of the Board or
                  the board of directors of a successor to the Company. For this
                  purpose, any director who was not a director at the beginning
                  of such period shall be deemed to be a Disinterested Director
                  if such director was elected to the Board by, or on the
                  recommendation of or with the approval of, at least two-thirds
                  of the directors who then qualified as Disinterested Directors
                  (so long as such director was not nominated by a person who
                  has entered into an agreement or threatened to effect a Change
                  of Control).

      C.    "Date of Termination" shall mean the date on which a Notice of
            Termination is given.

      D.    "Good Reason" shall have the following definition:

            1.    Executive's annual salary or target bonus opportunity is
                  reduced below the higher of (A) the amount of annual salary or
                  target bonus opportunity in effect immediately prior to the
                  Change in Control or (B) the highest amount of annual salary
                  or target bonus opportunity in effect at any time thereafter;

            2.    (A) any failure by the Company to continue in effect or
                  provide plans or arrangements pursuant to which the Executive
                  will be entitled to receive grants relating to the securities
                  of the Company (or any parent company) (including, without
                  limitation, stock options, stock appreciation rights,
                  restricted stock or other equity based awards) of the same
                  type as the Executive was participating in immediately prior
                  to the Change in Control (hereinafter referred to as
                  "Securities Plans") or providing substitutes for such
                  Securities Plans which in the aggregate provide substantially
                  similar economic benefits; or (B) the taking of any action by
                  the Company which would adversely effect the Executive's
                  participation in, or benefits under, any such Securities Plan
                  or its substitute if in the Aggregate the Executive is not
                  provided substantially similar economic benefits; provided,
                  however, that for these purposes, any determination of whether
                  Good Reason exists under (A) or (B) of this subsection (ii)
                  because the Executive is or is not provided substantially
                  similar 



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                  economic benefits in the aggregate will be made with due
                  consideration given to such Executive's base salary, other
                  cash compensation and any other equity based incentive
                  programs to which the Executive is also entitled to receive,
                  and not solely on the basis of whether the Executive is or is
                  not entitled or eligible to receive equity based incentive
                  compensation;

            3.    Executive's duties and responsibilities or, in the aggregate,
                  the program of retirement and welfare benefits offered to
                  Executive are materially and adversely diminished in
                  comparison to the duties and responsibilities or the program
                  of benefits, in the aggregate, enjoyed by Executive on the
                  Effective Date; provided, however, that Good Reason shall not
                  be deemed to exist solely as a result of changes in
                  Executive's duties and responsibilities which are directly
                  caused by the Company's ceasing to be a publicly held company
                  or its becoming a wholly-owned subsidiary of another company;

            4.    in the event of a Transaction that is deemed to be a Change in
                  Control solely as a result of Section 1(b)(ii) of this
                  Agreement, Executive is removed from the position he held with
                  the Company prior to such Transaction (or fails to hold the
                  comparable position in the parent company following such
                  Transaction) or his duties or responsibilities are adversely
                  diminished in a manner that would be Good Reason under Section
                  1(d)(iii) above;

            5.    Executive is required to be based at a location more than 50
                  miles from the location where Executive was based and
                  performed services on the Effective Date, or if Executive is
                  required to substantially increase his or her business travel
                  obligations.

            Executive must give notice in writing within 90 days after the
            Executive has knowledge of the event forming the basis of Good
            Reason, setting forth the particulars of such event and the reason
            why he believes in good faith that Good Reason exists. The Company
            shall have 30 days within which to cure such event if it disagrees
            with the Executive.

II.   SEVERANCE COMPENSATION TRIGGER. Executive will be entitled to severance
      compensation as set forth in section 3 ("Severance Compensation") in the
      event Executive's employment is terminated within two years after a Change
      in Control (i) by the Company without Cause, or (ii) by Executive within
      90 days after Executive has knowledge of the occurrence of an event
      constituting Good Reason.

      Notwithstanding the foregoing, Executive will not be entitled to Severance
      Compensation in the event of a termination of employment on account of:

      A.    DEATH or DISABILITY (illness or injury preventing Executive from
            performing his duties, as they existed immediately prior to the
            illness or injury, on a full time basis for 180 consecutive business
            days);

      B.    RETIREMENT (voluntary late, normal or early retirement under a
            pension plan sponsored by the Company, as defined in such plan); or

      C.    QUALIFIED SALE OF BUSINESS (the sale of a business unit in which
            Executive was employed before such sale and Executive has been
            offered employment with the purchaser of such business unit on
            substantially the same terms under which he worked for the Company,
            including severance protection).

III.  Severance Compensation.
      -----------------------
  

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      A.    In the event of a Severance Compensation Trigger, the Executive
            shall be entitled to the Severance Compensation provided below:

            1.    In lieu of any further salary payments to the Executive for
                  periods subsequent to the Date of Termination, the Company
                  shall pay to the Executive not later then the tenth day
                  following the Date of Termination a lump sum severance payment
                  equal to the sum of:

                  (x) an amount equal to two times (2x) the Executive's annual
                      base salary in effect on the Date of Termination (the
                      "Base Salary"),

                  (y) an amount equal to two times (2x)
                        (1)  the bonus compensation paid to the Executive
                             with respect to the last complete fiscal year, and
                          
                        (2)  the contribution, if any, paid by the Company
                             for the benefit of the Executive to any 401(k)
                             Plan in the last complete fiscal year,

                  (z) the present value, determined as of the Date of
                      Termination, of the sum of:
                        (3)  all benefits which have accrued to the Executive
                             but have not vested under the LIN Television
                             Corporation Retirement Plan (the "Retirement
                             Plan") as of the Date of Termination, and

                        (4)  all additional benefits which would have accrued
                             to the Executive under the Retirement Plan if the
                             Executive had continued to be employed by the
                             Company on the same terms the Executive was
                             employed on the Date of Termination from the Date
                             of Termination to the date 12 months after the
                             Date of Termination.

                  For purposes of this Section, the present value of a future
                  payment shall be calculated by reference to the actuarial
                  assumptions (including assumptions with respect to interest
                  rates) in use immediately prior to the Change in Control for
                  purpose of calculating actuarial equivalents under the
                  Retirement Plan.

            2.    The Company shall arrange to provide the Executive for a
                  period of 24 months following the Date of Termination or until
                  the Executive's earlier death, with life, health, disability
                  and accident insurance benefits and the package of "executive
                  benefits" substantially similar to those which the Executive
                  was receiving immediately prior to the Notice of Termination,
                  or immediately prior to a Change in Control, if greater
                  provided however, that Executive shall be obliged to continue
                  to pay that proportion of premiums paid by the Executive
                  immediately prior to the change in control.

            3.    The Company shall accelerate the exercise date of all stock
                  options granted to the Executive under the 1994 Stock
                  Incentive Plan and the 1994 Stock Adjustment Plan (the
                  "Options") which are not exercisable on the Date of
                  Termination, to the end that such Options shall be immediately
                  exercisable.

            4.    The Executive shall have the right within one year following
                  the later of the Change in Control or the exercise of each
                  Option to sell to the Company shares of Common Stock acquired
                  at any time upon exercise of an Option at a price



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                  equal to the average market price of the Common Stock for the
                  30 day period ending on the date prior to the date of the
                  Change in Control.

      B.    If the Severance Compensation under this Section 3, either alone or
            together with other payments to the Executive from the Company,
            would constitute an "excess parachute payment" (as defined in
            Section 280G of the Code), such Severance Compensation shall be
            reduced to the largest amount that will result in no portion of the
            payments under this Section 3 being subject to the excise tax
            imposed by Section 4999 of the Code or being disallowed as
            deductions to the Company under Section 280G of the Code.

IV.   No Obligation To Mitigate Damages;  No Effect on Other Contractual Rights.
      --------------------------------------------------------------------------
 
      A.    The Executive shall not be required to mitigate damages or the
            amount of any payment provided for under this Agreement by seeking
            other employment or otherwise, nor shall the amount of any payment
            provided for under this Agreement be reduced by any compensation
            earned by the Executive as the result of employment by another
            employer after the termination of the Executive's employment, or
            otherwise.

      B.    The provisions of this Agreement, and any payment provided for
            hereunder, shall not reduce any amounts otherwise payable, or in any
            way diminish the Executive's existing rights, or rights which would
            accrue solely as a result of the passage of time, under any Benefit
            Plan, Incentive Plan or Securities Plan, employment agreement or
            other contract, plan or arrangement of the Company.



V.    Successors.
      -----------

     A.     The Company will require any successors or assign (whether direct or
            indirect, by purchase, merger, consolidation or otherwise) to all or
            substantially all the business and/or assets of the Company by
            agreement in form and substance satisfactory to the Executive,
            expressly, absolutely and unconditionally to assume and agree to
            perform this Agreement in the same manner and to the same extent
            that the Company would be required to perform it if no such
            succession or assignment had taken place. Any failure of the Company
            to obtain such agreement prior to the effectiveness of any such
            succession or assignment shall be a material breach of this
            Agreement and shall entitle the Executive to terminate the
            Executive's employment for Good Reason. As used in this Agreement,
            the "Company" shall mean the Company as hereinbefore defined and any
            successor or assign to its business and/or assets as aforesaid which
            executes and delivers the agreement provided for in this Section 5
            or which otherwise becomes bound by all the terms and provisions of
            this Agreement by operation of law.

      B.    This Agreement shall inure to the benefit of and be enforceable by
            the Executive's personal and legal representatives, executors,
            administrators, successors, heirs, distributees, divisees and
            legatees. If the Executive should die while any amounts are still
            payable to the Executive under, all such amounts, unless otherwise
            provided herein, shall be paid in accordance with the terms of this
            Agreement to the Executive's devisee, legatee, or other designee or,
            if there be no such designee, to the Executive's estate.

      C.    In the event of a liquidation of the Company, the payment provided
            for hereunder shall be made before any property or asset of the
            Company is distributed to any holder of common stock.


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VI.   EMPLOYMENT. The Executive agrees to be bound by the terms and conditions
      of this Agreement and to remain in the employ of the Company during any
      period following any public announcement by any person of any proposed
      transaction or transactions which, if effected, would result in a Change
      in Control until a Change in Control has taken place or, in the opinion of
      the Board of Directors of the Company, such person has abandoned or
      terminated its efforts to effect a Change in Control. Subject to the
      foregoing, nothing contained in this Agreement shall impair or interfere
      in any way with the right of the Executive to terminate the Executive's
      employment or the right of the Company to terminate the employment of the
      Executive with or without cause prior to a Change in Control. Nothing
      contained in this Agreement shall be construed as a contract of employment
      between the Company and the Executive or as a right of the Executive to
      continue in the employ of the Company or as a limitation of the right of
      the Company to discharge the Executive with or without cause prior to a
      Change in Control.

VII.  LEGAL FEES. In the event that any legal action is required to enforce the
      Executive's rights under this Agreement, the Executive, if the Executive
      is the prevailing party, shall be entitled to recover from the Company any
      expenses for attorneys' fees and disbursements reasonably incurred by the
      Executive.

VIII. CHOICE OF LAW. This Agreement shall be governed by and construed in
      accordance with the laws of the State of Delaware.

IX.   CONFIDENTIALITY: Executive shall not, without the prior written consent of
      the Company, divulge, disclose or make accessible to any other person,
      partnership, corporation or other entity any Confidential Information
      pertaining to the business of the Company, except (i) while employed by
      the Company, or (ii) when required by law to do so. For these purposes,
      "Confidential Information" shall mean non-public information concerning
      the financial data, strategic business plans, product development (or
      other proprietary product data), customer lists, marketing plans and any
      other non-public, proprietary and confidential information of the Company
      and its subsidiaries that is not otherwise available to the public or has
      not become publicly available through any breach of fiduciary duty.

X.    NONSOLICITATION: For a period of one year following the Executive's
      termination of employment, the Executive shall not contact, communicate
      with or solicit in any fashion any employee, consultant, customer or
      advertiser who, at the time of such termination and at any time during the
      preceding twelve-month period was employed by, employed or otherwise had
      business dealings with, the Company for the purpose of causing such
      employee, consultant, customer or advertiser (i) to terminate such
      person's relationship with the Company or (ii) to be employed by, to
      employ or otherwise to have business dealings with any business, whether
      or not incorporated, in any television markets served by the Company at
      the time of termination.

XI.   RELEASE. As a condition to the receipt of any payments hereunder, the
      Executive shall deliver to the Company, in form and substance reasonably
      acceptable to the Company, a written release of the Company, its officers,
      directors and shareholders from all claims of whatever nature, other than
      as arising under the terms hereof or under any benefit plans of the
      Company to which the Executive is otherwise entitled.

XII.  NOTICE. For purpose of this Agreement, notices and all other
      communications provided for in the Agreement shall be in writing and shall
      be deemed to have been duly given when delivered or mailed by United
      States registered mail, return receipt requested, postage prepaid. Notice
      may be given to either party at the present principal place of business of
      the Company or such other place as the party to receive such notice shall
      notify the other.

XIII. MODIFICATION OR WAIVER. No provisions of this Agreement may be modified,
      waived or discharged unless such waiver, modification or discharge is
      agreed to in writing and signed by 



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      the Executive and the Company. No waiver by a party hereto at any time of
      any breach by another party hereto of, or compliance with, any condition
      or provision of this Agreement to be performed by such other party shall
      be deemed a waiver of similar or dissimilar provisions or conditions.

XIV.  ENTIRE AGREEMENT. No agreements or representations, oral or otherwise,
      express or implied, with respect to the subject matter hereof have been
      made by any of the parties which are not set forth expressly in this
      Agreement.

XV.   COUNTERPARTS. This Agreement may be executed in one or more counterparts,
      each of which shall be deemed to be an original but all of which together
      will constitute one and the same instrument.


       IN WITNESS WHEREOF, the parties have executed this Agreement as of the
date first above written.


       LIN TELEVISION CORPORATION,                 EXECUTIVE,

       By  /s/ Gary R. Chapman                     Name /s/ Gregory M. Schmidt

       Title  President & CEO