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WGHP FOX 8 Sold

D

DubbaDon

Fox has had WGHP on the market for several years; but just couldn't find the right buyer OR could not bear to part with her as she was a TOP Performer in the US. They packaged 9 stations and sold them to OAK HILL CAPITAL PARTNERS. Oak Hill is an interesting mix of businesses, broadcasting is just one of its interests. Total Sale Price $1.1 Billion, they expect to close the deal 3rd Quarter 2008.

WGHP has been passed around a few times (in 45 years) : Southern, Gulf, Taft, Great American, Citicasters, New World and FOX.

Their new owner - Local TV (an Oak Hill arm) just purchased stations from the New York Times and will be managing some Tribune stations.

The face of TV ownership is changing again.
 
Fox did a great job with WGHP - gave them the tools they needed to be a great local station. Let's hope the new owners don't start pinching pennies!
 
Does this mean that they will change back to ABC now that Fox has sold them? ABC will love that since 45 doesn't do any news.
 
At one point, I know that ABC was shopping the affiliation to Pappas. Sinclair would have preferred a WB/UPN combo and Pappas wanted a News operation - they operate an ABC affiliate in Lincoln, NE.

I suspect that there are strings attached to this sale - the stations are probably forbidden from changing affiliations for some long term. FOX would be crazy to let a station as strong as WGHP switch affiliations. PLUS, WGHP would loose a good portion of their Morning News Show as ABC mandates the 7-9 Good Morning America clearance, killing half of the Morning Show.
 
Can Fox forbid a station to change networks if they don't own the station anymore? That doesn't sound right. If they want it to stay Fox, then why are they selling it? It doesn't make sense.
 
DubbaDon said:
Fox has had WGHP on the market for several years; but just couldn't find the right buyer OR could not bear to part with her as she was a TOP Performer in the US. They packaged 9 stations and sold them to OAK HILL CAPITAL PARTNERS. Oak Hill is an interesting mix of businesses, broadcasting is just one of its interests. Total Sale Price $1.1 Billion, they expect to close the deal 3rd Quarter 2008.

WGHP has been passed around a few times (in 45 years) : Southern, Gulf, Taft, Great American, Citicasters, New World and FOX.

Their new owner - Local TV (an Oak Hill arm) just purchased stations from the New York Times and will be managing some Tribune stations.

The face of TV ownership is changing again.
Click to expand...

Randy Michaels and Company will certainly shake things up in the Television world-who knows they (Sam Zell) may also make a play for CC Radio. Talk about what goes around comes around. Will be interesting.
 
;D Does this mean we get Fred Blackmon back????
 
Fox can set any conditions they want, they could say that all stations must have their male news anchors wear Stove-Pipe Hats and female anchors wear plaid! It's all part of the sales process. They're not buying a car, it's far more complicated with all the programming contracts, personnel contracts, land and equipment leases.

I heard that when New World (WGHP's previous owner) switched to FOX several years ago, part of that deal - which included a very generous compensation package to New World - included the option for FOX to purchase New World at a set price in the future. Which they did.

Leave it to lawyers and bankers to figure out how to make money in the future.
 
The new owner would be foolish to switch networks. The Fox prime time lineup is far superior to ABC's.

Certainly, ABC would like to make the switch, but don't count it happening. I suspect it could, but a large amount of network compensation would be in the picture.

DubbaDon is right - Fox, as the seller, can write virtually any condition into the deal. As long as the buyer agrees at the time of sale, the condition would be binding!

I can see Neil in a stove-pipe hat. And Cindy Farmer in anything works for me!
 
Guys, television-info.com is this a-way --------------------------------------------------------> ;D



lol. just kidding. Merry Christmas everyone!
 
iamdrunk said:
Guys, television-info.com is this a-way --------------------------------------------------------> ;D



lol. just kidding. Merry Christmas everyone!
Click to expand...

Orginal User name..Wish I would have thought of that!! Merry Christmas ...BIG APE
 
Here's something to think about...
WGHP is broadcasting their digital signal, once the sale go through, Oak Hill
Broadcasting could still get the ABC Affilation, and create another digital
channel with some of WGHP's programming at different times, that way
they would have FOX and ABC, if this can be accomplished.
 
Unfortunately, Greensboro does NOT meet the criteria for a second duopoly - Sinclair's ABC / MyNetwork pretty much eliminated the possibility of any new duopolies, short of financial distress. Word is that Pappas may have been run into the ground by their new generation of leadership, making them a candidate for a financial exception; but that would result in a FOX/CW duopoly, or even Sinclair adding a third station.

It's practically impossible in a market the size of Greensboro for any two of the Big 4 Networks to consolidate. The duopoly regs are fairly clear with regards to networks, number of stations, percentage of audience.

FYI - all station are now Digital; but the rules state that the analog signal must be duplicated on the Digital Signal. It's possible for WGHP to offer a second standard definition channel; but not practical as their Digital Encoder does not provide them that opportunity - it's a FOX thing. One thing that could happen is the CW could disappear into a Cable Only Service - CW already does that in their TV Markets Ranks 100 and Up.

Personally, I don't believe that after the Analog Transmitters are turned off February 17, 2009, there will be a slow death of minor TV stations all around the country. UNLESS they are producing LOCAL NEWS and Programming, they will have nothing to offer as the networks by-pass the local broadcasters to broadcast direct to their customers via satellite and cable.
 
On FOX8's 5 PM news tonight they announced
the sale and also that WGHP is staying a Fox
affiliate. The new owners feel the station has
been too successful with Fox to change its affiliation.

I suspect that's also their thinking with the other
stations involved in the sale; for example, I can't
see WBRC/FOX6 in Birmingham going back to ABC,
since it, too, has done quite well with Fox, and
ABC has been successful with ABC33/40 there.

I will be interested, however, in seeing if Fox
hangs onto KTVI/2 St. Louis, or whether it
will go back to ABC.
 
BIG APE said:
;D Does this mean we get Fred Blackmon back????
Click to expand...
Yes. Frank Deal will do the weather with those jokes about "Our man in ..." and Mike Hogewood will have sports. Doug Mayes, Terri Bennett, and Chuck Howard will do weekends.
 
How about Charlie Harville, Bobbi Martin and to steal a couple from Charlotte..Clyde "Cloudy" McClain, Bill Walker...
 
Please....let's leave the "blood and guts" hacks in Charlotte. WGHP is by far the BEST overall operation in the state. The news is local, balanced, and believable. Fox primetime programming has led the network pack for some years now- so why would the new owners want to downgrade to a second rate product?
 
"Fox primetime programing has led the network pack for some years now-"

Are you kidding? Last I saw Fox prime programing still comes in fourth most of the time in the ratings. And, I may be wrong, but I doubt they are first place in the Triad. But I agree on Charlotte's Blood and Guts news---you sure don't want that in the Triad. Still, I doubt "Cloudy" McClain would bring too much guts. And I don't know about WGHP having the best news operation in the state---wouldn't that honor more likely go to WRAL or WTVD?
 
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