OT- SQL backup question

[Eric Creese]

I back up my transaction log with the following script. How come after the script runs (successfully), the .LDF file is still large and not smaller? I thought when you backed up the file it is completely truncated thus freeing up space?

BACKUP LOG AVPhoneLookup
TO DISK= 'g:\avbkp\avp_trans.bak'
WITH INIT

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