UPDATE 1-LIN TV Q4 result beats Wall Street; shrs hit 2-yr high

* Q4 EPS $0.21 vs est $0.09

* Q4 rev $101.1 mln vs est. $93 mln

* Sees Q1 rev $90 mln-$93 mln vs est. $88.7 mln

* Shares up 16 percent

March 11 (Reuters) - Media company LIN TV Corp (TVL.N) posted better-than-expected quarterly results, helped in part by a rise in revenue at its digital segment, and forecast first-quarter revenue above market view, sending its shares up 16 percent to their highest levels in two years.

LIN TV, which operates network-affiliated broadcast television stations in the United States, forecast first-quarter revenue of $90 million to $93 million.

Analysts on average were expecting revenue of $88.7 million for the period, according to Thomson Reuters I/B/E/S.

"We are encouraged by early signs of economic recovery during the fourth quarter of 2009," Chief Executive Vincent Sadusky said.

For the fourth quarter, the company earned $10.8 million, or 21 cents a share, compared with a loss of $625.9 million, or $12.24 per share, a year ago.

Revenue fell 3 percent to $101.1 million, partly due to a drop in political revenue.

Digital revenue, which includes Internet advertising revenue among others, increased 44 percent to $13.4 million. Analysts on average were expecting a profit of 9 cents a share, on revenue of $93 million.

Shares of the company were up 12 percent at $6.43 in morning trade Thursday on the New York Stock Exchange. They touched a new two-year high of $6.65 earlier in the session. (Reporting by Deepti Govind in Bangalore; Editing by Unnikrishnan Nair)