Utah's Fox Network affiliate, KSTU Fox 13, has changed ownership, following the completion Monday of a $1.1 billion, eight-station purchase agreement by Oak Hill Capital Partners.
The private equity firm bought the eight Fox television stations from News Corp. The other stations are in Denver; St. Louis; Birmingham, Ala.; Kansas City, Mo.; Greensboro, N.C.; Milwaukee; and Cleveland. The Fox stations will be managed by senior executives of Local TV LLC, a television group that Oak Hill created in 2007 after its purchase of nine stations from the New York Times Co.
The stations will join Local TV's mix of CBS, NBC, ABC and MyNetwork properties, with projected 2008 net revenue over $450 million, according to a news release. Local TV operates 17 stations in 16 markets nationwide.