07.18.2008 08:00 AM
Originally featured on BroadcastEngineering.com
Oak Hill Capital Partners closes deal for eight News Corp. stations
Private equity firm Oak Hill Capital Partners has completed its acquisition of eight FOX Network owned-and-operated TV stations from News Corp. for about $1.1 billion, the company said July 14.
The stations include: KDVR in Denver; KSTU in Salt Lake City; KTVI in St. Louis; WBRC in Birmingham, AL; WDAF in Kansas City, MO; WGHP in Greensboro, NC; WITI in Milwaukee; and WJW in Cleveland.
Local TV LLC, which Oak Hill created following its 2007 acquisition of nine New York Times Company stations, will manage the newly acquired stations.
Geolo Capital, the private equity investment arm of the John Pritzker family, joined the Local TV ownership group as a minority investor.