Eight former Fox O&Os are now in their new corporate home at Local TV LLC. The $1.1 billion sale announced at Christmastime has gone to closing. The 8-station acquisition expands the Local TV group to 17 stations with projected 2008 net revenues of over $450 million.
“What a great day for Local TV. This group of Fox stations is the highest quality collection of media assets we’ve seen come to market. Seven of the eight stations lead their DMAs in audience share in the coveted 18-49 Adult demo. The stations’ managers are experienced and demonstrated winners. We are thrilled to get this transaction closed and can’t wait to begin working with the stations,” said Local TV CEO Bobby Lawrence.
