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PRINT THIS PAGE Oak Hill completes $1.1bn acquisition of TV stations from News Corporation15/07/2008. Source: AltAssets. 
Oak Hill Capital Partners has completed its acquisition of eight Fox network-affiliated TV stations in the US from News Corporation for approximately $1.1bn. The stations include KDVR in Denver, KSTU in Salt Lake City, KTVI in St Louis, WBRC in Birmingham, WDAF in Kansas City, WGHP in Greensboro, WITI in Milwaukee and WJW in Cleveland.
The stations will be managed by Local TV management. Local TV is the TV platform created by Oak Hill last year, following its purchase of nine stations from the New York Times Company.
In conjunction with the closing of this transaction, Geolo Capital, the private equity investment arm of the John A Pritzker family, bought a minority stake in Local TV.
J Taylor Crandall, an Oak Hill managing partner, 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.'
Oak Hill has $7bn of committed capital under management.
Geolo Capital specialises in travel and leisure, hospitality and entertainment-focused investments.
Copyright © 2008 AltAssets
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