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FOX Television stations sold

E

e-dawg

Has anybody herd about some of the FOX station being sold to this company Oak Hill Capital Partners. Does anybody know what tv station are being sold & who are Oak Hill Capital Partners?
 
e-dawg said:
who are Oak Hill Capital Partners?
Click to expand...

Oak Hill Capital Parnters...aka Local TV

They are the ones that purchased the 9 stations that New York Times Company owned.

Currently they own: WJW, KDVR, KFCT, KTVI, WDAF,WITI, KSTU,WBRC, KFOR, KAUT,WGHP, WREG, WNEP, WHO, WHNT,WQAD, KFSM, and WTKR (which is the Master Control Hub for all these stations.)
 
Local TV, LLC doesn't yet officially own the eight Fox-owned stations (KDVR, WJW, KTVI, WDAF, WITI, WBRC, WGHP, KSTU)...the deal is expected to be finalized later this year.

Additionally, there is a good amount of cross-over with the recently-privatized Tribune Company. Sam Zell, the new owner of Tribune, hired the CEO of Local TV, LLC, Randy Michaels, as Tribune's president of Interactive and Broadcasting. However, Michael's still owns a considerable amount of stock in Local TV, LLC and Local TV, LLC stations have created a "shared services" agreement with Tribune.

For all intents and purposes, Michaels will run a combined broadcast company which will oversee the day-to-day operations of both Tribune and Local TV, LLC stations while Tribune and Oak Hill will hold the licenses to their respective stations.

Sort of like Nexstar and Mission Broadcasting...Nexstar owns a batch of stations as does Mission, but their "shared services" agreement operates the entire group day-to-day operations. It's a creative way to get around duopoly restrictions if nothing else.

In a way its surprising that Fox/Tribune/Local TV couldn't come up with a way to bring Fox's Memphis station WHBQ-13 (which was listed as one of the stations up for sale last summer) into the mix as well even though Local TV owns WREG-3-CBS in Memphis. Perhaps that's a deal that is still in the works, on the Tribune side of the quarter.
 
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