Local TV

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Local TV LLC
Former typePrivate
IndustryBroadcast television
FateAcquired by Tribune
Predecessor(s)Broadcasting division of
The New York Times Company
Successor(s)Tribune Broadcasting
Founded2006
DefunctDecember 27, 2013
HeadquartersNewport, Kentucky, United States
Key peopleBobby Lawrence, CEO
Owner(s)Oak Hill Capital Partners
 
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Local TV LLC
Former typePrivate
IndustryBroadcast television
FateAcquired by Tribune
Predecessor(s)Broadcasting division of
The New York Times Company
Successor(s)Tribune Broadcasting
Founded2006
DefunctDecember 27, 2013
HeadquartersNewport, Kentucky, United States
Key peopleBobby Lawrence, CEO
Owner(s)Oak Hill Capital Partners

Local TV LLC was a television broadcasting company owned by Oak Hill Capital Partners which operated 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, and grew further with the acquisition of eight former Fox owned-and-operated stations from Fox Television Stations, and a wide partnership with Tribune Broadcasting to provide management services for the stations (in turn, Local TV also operated several Tribune stations as well).

On July 1, 2013, Tribune announced that it would acquire Local TV LLC for $2.725 billion, a deal which was approved by the FCC on December 20, and was completed on December 27.[3]

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."[4] 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 Broadcasting and Local TV agreed to form a "broadcast management company" to provide management services to both Tribune and Local TV's stations.[5] Also as part of the agreement, the websites for Local TV's stations were transitioned to a platform developed and managed by Tribune Interactive.[6] 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.[7] Local TV's partnership with Tribune expanded on September 17, 2008, as the company announced that it would take over Tribune's CW affiliates KWGN-TV and KPLR-TV under local marketing agreements, and consolidate them with KDVR and KTVI respectively.[8]

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.[9] The swap also benefited Raycom, as it is based in, and already has a strong media presence in the state of Alabama.[10] On June 14, 2010, CBS Corporation announced that it would sell its CW O&O WGNT in Hampton Roads to Local TV, making it a sister station to its existing CBS affiliate WTKR.[11]

In March 2013, Oak Hill Capital began notifying stations that it was planning to sell the Local TV stations. On July 1, 2013, Tribune Broadcasting announced that it would acquire the company outright for $2.725 billion.[12][13] The deal was approved by the FCC on December 20, [14] with the completion of the sale on December 27.[3]

Officers[edit]

President and chief executive officer (CEO) was 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][15][16]

Chief financial officer (CFO) of Local TV is Pam Taylor.[1]

Former Local TV-owned stations[edit]

Stations are arranged alphabetically by state and by city of license.

Notes:

MarketStationChannel TV (RF)Years OwnedCurrent Ownership Status
Birmingham, ALWBRC ++6 (50)2008-2009Fox affiliate owned by Raycom Media
Huntsville, ALWHNT-TV **19 (19)2007-2013CBS affiliate owned by Tribune Broadcasting
Fort Smith - Fayetteville, ARKFSM-TV **5 (18)2007-2013CBS affiliate owned by Tribune Broadcasting
KXNW34 (34)2012-2013MyNetworkTV affiliate owned by Tribune Broadcasting
Denver, COKDVR ++31 (32)2008-2013Fox affiliate owned by Tribune Broadcasting
Fort Collins, COKFCT ++
(satellite of KDVR)
22 (21)2008-2013Fox affiliate owned by Tribune Broadcasting
Des Moines, IAWHO-DT **13 (13)2007-2013NBC affiliate owned by Tribune Broadcasting
Moline, IL / Davenport, IAWQAD-TV **8 (38)2007-2013ABC affiliate owned by Tribune Broadcasting
WBQD-LP262008–2013 1Defunct
Kansas City, MOWDAF-TV ++4 (34)2008-2013Fox affiliate owned by Tribune Broadcasting
St. Louis, MOKTVI ++2 (43)2008-2013Fox affiliate owned by Tribune Broadcasting
High Point - Greensboro -
Winston-Salem, NC
WGHP ++8 (35)2008-2013Fox affiliate owned by Tribune Broadcasting
Cleveland - Akron, OHWJW ++8 (8)2008-2013Fox affiliate owned by Tribune Broadcasting
Oklahoma City, OKKFOR-TV **4 (27)2007-2013NBC affiliate owned by Tribune Broadcasting
KAUT-TV **43 (40)2007-2013Independent station owned by Tribune Broadcasting
Scranton - Wilkes Barre, PAWNEP-TV **16 (50)2007-2013ABC affiliate owned by Dreamcatcher Broadcasting, LLC
(Operated through a SSA by Tribune Broadcasting)
Memphis, TNWREG-TV **3 (28)2007-2013CBS affiliate owned by Tribune Broadcasting
Salt Lake City, UTKSTU ++13 (28)2008-2013Fox affiliate owned by Tribune Broadcasting
Norfolk - Portsmouth - Newport News, VAWTKR **3 (40)2007-2013CBS affiliate owned by Dreamcatcher Broadcasting, LLC
(Operated through a SSA by Tribune Broadcasting)
WGNT27 (50)2010-2013The CW affiliate owned by Dreamcatcher Broadcasting, LLC
(Operated through a SSA by Tribune Broadcasting)
Richmond, VAWTVR-TV6 (25)2009-2013CBS affiliate owned by Tribune Broadcasting
Milwaukee, WIWITI ++6 (33)2008-2013Fox affiliate owned by Tribune Broadcasting

Other Note:

References[edit]

  1. ^ 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." 
  2. ^ 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...." 
  3. ^ a b "Tribune Closes Acquisition of Local TV Holdings" (Press release). Tribune Company. 2013-12-27. Retrieved 2013-12-28. 
  4. ^ "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." 
  5. ^ "Tribune and Local TV to Form Broadcast Management Company" (Press release). Tribune Company. 2007-12-20. Retrieved 2008-08-24. 
  6. ^ "Tribune Interactive, Schurz in Web Deal". TVNewsCheck. Retrieved 20 July 2012. 
  7. ^ "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. 
  8. ^ "Denver, St. Louis To Get Fox-CW Duops". TVNewsCheck. Retrieved 20 July 2012. 
  9. ^ "Raycom-Local TV Swap Includes $85M". TVNewsCheck. Retrieved 2 August 2012. 
  10. ^ "Local TV Closes On WTVR". Broadcasting and Cable. Retrieved 3 August 2012. 
  11. ^ Local TV Acquiring CBS Owned WGNT Broadcasting and Cable June 14, 2010
  12. ^ "Exclusive: Local TV Puts Stations on Block". Broadcasting & Cable. NewBay Media. Retrieved 20 December 2013. 
  13. ^ "Acquisition to make Tribune Co. largest U.S. TV station operator". Chicago Tribune. Retrieved 1 July 2013. 
  14. ^ "FCC OKs Gannett-Belo And Tribune-Local". TVNewsCheck. Retrieved 20 December 2013. 
  15. ^ "Local TV Announces Bobby Lawrence as CEO" (Press release). Local TV LLC. 2007-12-20. Retrieved 2008-08-24. 
  16. ^ "Ownership Report for Commercial Broadcast Stations". FCC. Retrieved 2008-08-24. 

Related audiovisual resources[edit]