Local TV
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| Type | Private |
|---|---|
| Industry | Broadcast television |
| Founded | 2006 (earlier as the broadcasting division of the New York Times Company) |
| Headquarters | Newport, Kentucky, United States |
| Key people | Bobby Lawrence, CEO |
| Products | Television stations |
| Parent | Oak Hill Capital Partners |
| Website | http://www.localtvllc.com/ |
Local TV LLC is a television broadcasting company owned by Oak Hill Capital Partners which operates 20 television stations in the United States.[1][2] The group was formed in 2006 by the acquisition of nine television stations owned by The New York Times Company.
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History [edit]
Local TV was created in December 2006, after Oak Hill Capital entered into an agreement with The New York Times Company to purchase nine local network-affiliated television stations; on May 7, 2007, the sale was completed as one part of a larger sale of the New York Times Company's Broadcast Media Group "for approximately $575 million."[3] At 12:01 a.m., Local TV assumed ownership of the nine television stations, located in "eight mid-sized markets."[2]
On December 21, 2007, Tribune Company and Local TV agreed to form a "broadcast management company" to provide management services to both Tribune Company's and Local TV's stations.[4] Also as part of the agreement, the websites for Local TV's stations were transitioned to a platform developed and managed by Tribune Interactive.[5] The next day, December 22, 2007, Local TV announced plans to acquire eight Fox owned-and-operated stations from Rupert Murdoch's News Corporation, completing that sale on July 14, 2008.[6]
On January 6, 2009, Raycom Media announced that it would acquire the Fox affiliate (and former O&O) WBRC-TV in Birmingham, Alabama from Local TV, in exchange for its CBS affiliate WTVR-TV in Richmond, Virginia and an undisclosed cash amount (revealed to be $85 million in an FCC filing). Raycom was required to divest WTVR as a condition of its purchase of Lincoln Financial Media's stations (which included Richmond's NBC station WWBT), as Richmond did not have enough stations to legally permit a duopoly. Raycom was previously blocked from selling WTVR to Sinclair Broadcast Group.[7] The swap also benefited Raycom, as it is based in, and already has a strong media presence in the state of Alabama.[8]
On June 14, 2010, CBS Corporation announced that it would sell its CW station WGNT in Hampton Roads to Local TV; the station's operations would be consolidated with Local TV's existing CBS affiliate WTKR.[9]
On March 22, 2013, Oak Hill Capital announced it was putting all of its Local TV stations up for sale, with the process to complete all sales taking up to a year.[10]
Officers [edit]
President and chief executive officer (CEO) is Robert (Bobby) Lawrence, who, Local TV announced on December 20, 2007, would succeed Randy Michaels (aka Benjamin Homel), former CEO of Clear Channel Communications and Local TV's first CEO, who became Chief Operating Officer (COO) of the Tribune Company, on May 7, 2008.[1][11][12]
Chief financial officer (CFO) of Local TV is Pam Taylor.[1]
Stations [edit]
Stations are arranged alphabetically by state and by city of license.
| City of license/Market | Station | Channel TV (RF) |
Owned Since | Affiliation | Acquired from |
|---|---|---|---|---|---|
| Huntsville, Alabama | WHNT-TV | 19 (19) | 2007 | CBS | NYT |
| Fort Smith - Fayetteville, AR | KFSM-TV | 5 (18) | 2007 | CBS | NYT |
| KXNW | 34 (34) | 2012 | MyNetworkTV | Riverside Media | |
| Denver | KDVR | 31 (32) | 2008 | Fox | FTSG |
| Fort Collins, Colorado | KFCT (satellite of KDVR) |
22 (21) | 2008 | Fox | FTSG |
| Des Moines | WHO-DT | 13 (13) | 2007 | NBC | NYT |
| Moline, Illinois/Davenport, Iowa | WQAD-TV | 8 (38) | 2007 | ABC | NYT |
| WBQD-LP 261 | 8.3 | 1 | MyNetworkTV | 1 | |
| Kansas City | WDAF-TV | 4 (34) | 2008 | Fox | FTSG |
| St. Louis | KTVI | 2 (43) | 2008 | Fox | FTSG |
| High Point - Greensboro - Winston-Salem, N.C. |
WGHP | 8 (35) | 2008 | Fox | FTSG |
| Cleveland - Akron | WJW | 8 (8) | 2008 | Fox | FTSG |
| Oklahoma City | KFOR-TV | 4 (27) | 2007 | NBC | NYT |
| KAUT-TV | 43 (40) | 2007 | Independent | NYT | |
| Scranton - Wilkes Barre, PA | WNEP-TV | 16 (50) | 2007 | ABC | NYT |
| Memphis | WREG-TV | 3 (28) | 2007 | CBS | NYT |
| Salt Lake City | KSTU | 13 (28) | 2008 | Fox | FTSG |
| Norfolk - Portsmouth - Newport News | WTKR | 3 (40) | 2007 | CBS | NYT |
| WGNT | 27 (50) | 2010 | The CW | CBSTVS | |
| Richmond, Virginia | WTVR-TV | 6 (25) | 2009 | CBS | Raycom |
| Milwaukee | WITI | 6 (33) | 2008 | Fox | FTSG |
Notes:
- All of Local TV's Fox affiliates and one CBS affiliate (WTVR-TV) are technically owned by FoxCo Acquisition Sub, LLC, which in turn is a wholly owned subsidiary of Local TV.
- 1 WBQD-LP is owned by Four Seasons Broadcasting, an affiliate of the Venture Technologies Group, LLC, and operated by WQAD-TV through a local marketing agreement. It still broadcasts in analog on channel 26.
Former local TV stations [edit]
| DMA# | Market | Station, Channel Number | Years Owned | Currently | Notes |
| 40. | Birmingham, Alabama | WBRC 6 | 2008–2009 | Fox network affiliate owned by Raycom Media | Swapped with WTVR-TV. |
References [edit]
- ^ a b c "About Us" (Web). localtvllc.com. Local TV LLC. August 2008. Archived from the original on 2008-06-25. Retrieved 2008-08-24. "We are currently in the process of acquiring a portfolio of 9 television stations. We intend to expand our media footprint, and are pleased to have the NYT stations as a foundation."
- ^ a b "Press Room" (Press release). Local TV. 2008-08-22. Retrieved 2008-08-24. "Local TV LLC is a broadcast holding company created in 2007 to acquire nine heritage television stations in eight midsized markets. In 2008, the company acquired eight Fox affiliates previously owned by News Corporation. Local TV is owned by Oak Hill Capital Partners, management and a consortium of bankers and high yield lenders...."
- ^ "The New York Times Company Reports April Revenues" (The New York Times Company Financial Report) (Press release). Business Wire. 2007-05-07. Retrieved 2008-08-23. "On May 7, 2007, the Company sold the Broadcast Media Group, consisting of nine network-affiliated television stations, their related Web sites and the digital operating center, for approximately $575 million."
- ^ "Tribune and Local TV to Form Broadcast Management Company" (Press release). Tribune Company. 2007-12-20. Retrieved 2008-08-24. "Tribune Company and Local TV have entered into a letter of intent to create a third-party broadcast management company which will provide shared services to all of the stations Local TV and Tribune Company own, respectively."
- ^ "Tribune Interactive, Schurz in Web Deal". TVNewsCheck. Retrieved 20 July 2012.
- ^ "Sale of Channel 6, Seven Other TV Stations Closes". The Business Journal of Milwaukee ((American City Business Journals). 2008-07-14. Retrieved 2008-08-24.
- ^ "Raycom-Local TV Swap Includes $85M". TVNewsCheck. Retrieved 2 August 2012.
- ^ "Local TV Closes On WTVR". Broadcasting and Cable. Retrieved 3 August 2012.
- ^ Local TV Acquiring CBS Owned WGNT Broadcasting and Cable June 14, 2010
- ^ http://www.broadcastingcable.com/article/492500-Exclusive_Local_TV_Puts_Stations_on_Block.php
- ^ "Local TV Announces Bobby Lawrence as CEO" (Press release). Local TV LLC. 2007-12-20. Retrieved 2008-08-24.
- ^ "Ownership Report for Commercial Broadcast Stations". FCC. Retrieved 2008-08-24.
Related audiovisual resources [edit]
- "Local TV & Local Responsibility Part One: Stop Big Media". The National Conference for Media Reform. The Oklahoma History Center, Oklahoma City, Oklahoma. May 19, 2007. 25 mins. Video clip. video.google.com (Google). (Part 1 of 3-part videotaped "Panel Discussion on the takeover of New York Times Corporation[']s news stations by Oak Hill Capital Partners and its holding company.")
External links [edit]
- Local TV LLC – Official Website
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