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Local TV LLC

From Alfawiki
Local TV LLC
Company typePrivate
IndustryTelevision broadcasting
PredecessorThe New York Times Company (stations purchased)
Founded2006
FounderOak Hill Capital Partners
Defunct2013
FateAcquired by Tribune Broadcasting
SuccessorTribune Broadcasting
Headquarters
Kenton County, Kentucky
,
United States
Area served
United States
Key people
Robert Lawrence (President and CEO), Pam Taylor (CFO), Randy Michaels (former CEO, COO at Tribune Company)
ProductsTelevision stations
OwnerOak Hill Capital Partners

Local TV LLC was a television broadcasting enterprise under the ownership of Oak Hill Capital Partners, managing 20 stations throughout the United States. Established in 2006 by purchasing nine stations from The New York Times Company, the company grew by acquiring eight former Fox owned-and-operated stations from Fox Television Stations. Additionally, Local TV collaborated with Tribune Broadcasting to deliver management services for its stations and operated several Tribune-owned outlets.

On July 1, 2013, Tribune revealed its intention to acquire Local TV LLC for $2.7 billion. The Federal Communications Commission granted approval on December 20, and the transaction was finalized on December 27, 2013, representing a notable consolidation within the broadcast television sector.

History

Local TV originated in December 2006 when Oak Hill Capital agreed to purchase nine network-affiliated local television stations from The New York Times Company. This acquisition, concluded on May 7, 2007, formed part of a broader $575 million deal involving the New York Times Company's Broadcast Media Group. Shortly afterward, Local TV took control of these stations across eight mid-sized markets.

On December 21, 2007, a broadcast management company was created through a partnership between Local TV and Tribune Broadcasting to provide shared operational services. Consequently, Local TV’s station websites were migrated to a platform developed by Tribune Interactive. The following day, Local TV declared its plan to acquire eight Fox owned-and-operated stations from News Corporation, covering important markets including Kansas City, Cleveland, Milwaukee, St. Louis, Denver, Salt Lake City, Birmingham, and the Piedmont Triad area. This acquisition was completed on July 14, 2008. The collaboration with Tribune further expanded in September 2008 when Local TV assumed local marketing agreements for Tribune’s CW affiliates KWGN-TV and KPLR-TV, integrating them with its existing Fox stations KDVR and KTVI, respectively.

Starting in January 2009, Local TV enhanced its online presence by launching redesigned websites managed by Tribune Interactive and transitioned Fox affiliate sites away from News Corp.’s platform. By January 2012, Local TV shifted its station websites hosting to WordPress.com.

In January 2009, Raycom Media acquired Local TV’s former Fox O&O station WBRC-TV in Birmingham in exchange for its CBS affiliate WTVR-TV in Richmond plus $85 million. This exchange aligned with Raycom’s strategic emphasis on Alabama markets and complied with regulatory requirements related to other acquisitions. In June 2010, Local TV broadened its holdings by purchasing CBS-owned CW affiliate WGNT in Hampton Roads, complementing its existing CBS outlet WTKR.

By March 2013, Oak Hill Capital began considering divesting Local TV’s assets. On July 1, 2013, Tribune Broadcasting announced plans to acquire Local TV for $2.7 billion, a move that would considerably expand Tribune’s market presence and global operations. The Federal Communications Commission approved the acquisition on December 20, with the deal closing on December 27, marking a significant consolidation within the broadcasting industry.

Executive Leadership

Robert Lawrence held the position of president and chief executive officer (CEO), having been named on December 20, 2007, to replace Randy Michaels, who was Local TV's inaugural CEO and previously led Clear Channel Communications. Lawrence officially assumed the role on May 7, 2008. Following this transition, Michaels moved into the role of chief operating officer (COO) at Tribune Company.[1][2][3]

Pam Taylor served as the chief financial officer (CFO).[1]

Previously Owned Stations

The following list organizes stations alphabetically by their state and city of license.

Local TV LLC Formerly Owned Stations
Media market State Station Acquisition Year Divestiture Year Remarks
Birmingham Alabama WBRC 2008 2009
Huntsville WHNT-TV 2007 2013
Fort Smith–Fayetteville Arkansas KFSM-TV 2007 2013
KXNW 2012 2013
Denver Colorado KDVR 2008 2013
KWGN-TV 2008 2013 [lower-alpha 1]
Fort Collins KFCT 2008 2013 Template:Efn-ua
Davenport Iowa WBQD-LP 2008 2011 [lower-alpha 2]
WQAD-TV 2007 2013
Des Moines WHO-DT 2007 2013
Kansas City Missouri WDAF-TV 2008 2013
St. Louis KTVI 2008 2013
KPLR-TV 2008 2013 [lower-alpha 3]
High Point–Greensboro–Winston-Salem North Carolina WGHP 2008 2013
Cleveland Ohio WJW 2008 2013
Oklahoma City Oklahoma KAUT-TV 2007 2013
KFOR-TV 2007 2013
Scranton–Wilkes Barre Pennsylvania WNEP-TV 2007 2013
Memphis Tennessee WREG-TV 2007 2013
Salt Lake City Utah KSTU 2008 2013
Norfolk–Portsmouth–Newport News Virginia WGNT 2010 2013
WTKR 2007 2013
Richmond WTVR-TV 2009 2013
Milwaukee Wisconsin WITI 2008 2013


Related audiovisual materials

  1. ↑ 1.0 1.1 Cite error: Invalid <ref> tag; no text was provided for refs named LTVAbout
  2. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named LocalTVPR
  3. ↑ Cite error: Invalid <ref> tag; no text was provided for refs named FCCRpt


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