Printer Friendly
The Free Library
22,710,190 articles and books

Oak Hill Capital Partners Completes Acquisition of Eight Television Stations from News Corporation.



NEW YORK New York, state, United States
New York, Middle Atlantic state of the United States. It is bordered by Vermont, Massachusetts, Connecticut, and the Atlantic Ocean (E), New Jersey and Pennsylvania (S), Lakes Erie and Ontario and the Canadian province of
, July 14 /PRNewswire/ -- Oak Hill Capital Partners, a leading private equity firm, announced that it has completed its acquisition of eight owned-and-operated Fox network affiliated television stations ("Fox Stations") from News Corporation for approximately $1.1 billion.
  The Fox Stations include:
  KDVR in Denver, CO
  KSTU in Salt Lake City, UT
  KTVI in St. Louis, MO
  WBRC in Birmingham, AL
  WDAF in Kansas City, MO
  WGHP in Greensboro, NC
  WITI in Milwaukee, WI
  WJW in Cleveland, OH





The Fox Stations will be managed by the senior executives of Local TV LLC (Logical Link Control) See "LANs" under data link protocol.

LLC - Logical Link Control
 ("Local TV"), the television platform Oak Hill created in 2007 following the purchase of nine stations from the New York Times Company.

Bobby Lawrence, CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board.  of Local TV, said, "We are delighted to have finalized the acquisition of these fantastic broadcast properties and look forward to working with our very capable team of employees to further build these premier local brands and leading news franchises."

J. Taylor Crandall, a Managing Partner of Oak Hill Capital Partners, said, "We are very pleased to be able to add these leading, heritage television stations to Oak Hill's existing portfolio of broadcasting assets. We remain confident that our Local TV management team will continue to deliver strong operating performance with these stations."

In conjunction with the closing of this transaction, Geolo Capital, the private equity investment arm of the John A. Pritzker family, joined the Local TV ownership group as a minority investor. Geolo Capital specializes in travel and leisure, hospitality, and entertainment focused investments.

Oak Hill Capital was advised by Deutsche Bank Securities Inc., Dow Lohnes PLLC PLLC Professional Limited Liability Company
PLLC Polk Life and Learning Center (Bartow, FL)
PLLC Partners of Limited Liability Corporation
 and Paul, Weiss, Rifkind, Wharton & Garrison LLP LLP - Lower Layer Protocol . Debt financing, which comprised a $565 million senior secured credit facility and a $200 million senior notes offering, was underwritten by affiliates of Deutsche Bank Securities Inc., UBS UBS Union Bank of Switzerland
UBS United Bible Societies
UBS United Blood Services
UBS United Buying Service
UBS Used Bookstore
UBS University Business Services
UBS Universal Building Society (UK)
UBS Ulaanbaatar Broadcasting System
 Securities LLC, Banc of America Securities LLC and BNP Paribas Securities Corp.

About Oak Hill Capital Partners

Oak Hill Capital Partners is a private equity firm with more than $7 billion of committed capital from leading entrepreneurs, endowments, foundations, corporations, pension funds and global financial institutions. Robert M. Bass is a lead investor. During a period of over 22 years, the professionals at Oak Hill Capital Partners and its predecessors have invested in more than 60 significant private equity transactions. Oak Hill Capital Partners is one of several separate Oak Hill partnerships, each of which has a dedicated and independent management team. These Oak Hill partnerships comprise more than $26 billion of investment capital across multiple asset classes.
  Contact for Oak Hill Capital:
  Jeremy Fielding / Lin Wu, Kekst and Company at (212) 521-4800

  Contact for Local TV:
  Pam Taylor, Local TV at (859) 448-2700



CONTACT: Jeremy Fielding or Lin Wu, both of Kekst and Company, +1-212-521-4800, for Oak Hill Capital; Pam Taylor for Local TV, +1-859-448-2700
COPYRIGHT 2008 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2008 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 14, 2008
Words:468
Previous Article:Cedar Fair Declares Second Quarter Cash Distribution.
Next Article:Lincoln Financial Group to Hold Conference Call to Discuss Definitional Changes to Income from Operations.
Topics:



Related Articles
THE SPORTING NEWS NAMES RUPERT MURDOCH THE MOST POWERFUL PERSON IN SPORTS
GATX Corporation Completes Sale of 81 Percent of GATX Logistics to Oak Hill Capital Partners and Stephens Group.
Chris-Craft, BHC and UTV to be Acquired by News Corporation in Cash and Stock Transactions.
Bauder Designated General Manager of WMTW-TV, Portland, ME.
Avista Capital Partners to Acquire WideOpenWest.
Oak Hill Capital Names Randy Michaels as CEO and Bobby Lawrence as President & COO of Local TV.
Oak Hill Capital Partners to Purchase Eight Television Stations From News Corporation.
KDSM-TV and WHO-TV to Produce a Shared 9pm Newscast in Des Moines, Iowa.
News Corp. Sells off Several Fox Affiliated Stations

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters