21st Century Fox has announced “a definitive agreement with Sinclair Broadcast Group and Tribune Media Company to acquire seven television stations for approximately $910 million. The transaction will grow Fox Television Stations’ (FTS) coverage to nearly half of all U.S. households, and its market presence to 19 of the top 20 DMAs, including the addition of key markets that align with Fox’s sports rights.”
Here are the stations in the deal:
|KSWB||San Diego, CA||Fox|
|KSTU||Salt Lake City, UT||Fox|
Writes the Hollywood Reporter about the deal: “The news of the purchase of stations in key NFL markets, such as Denver, Miami and Seattle, comes after Fox’s $52.4 billion December mega-deal to sell large parts to Walt Disney.
“The acquisition of the stations in deal with Sinclair and Tribune Media will strengthen so-called New Fox, which after the Disney deal will consist of the Fox broadcast network, TV stations, Fox News and Fox Sports. Fox, led by CEO James Murdoch and executive co-chairmen Rupert and Lachlan Murdoch, currently owns 28 stations in 17 markets, including New York, Los Angeles, Chicago, Dallas, San Francisco, Washington, D.C., and Houston.”
The announcement from Fox adds: “21st Century Fox has also entered into new network affiliation agreements with Sinclair (and licensees of certain stations to which Sinclair provides services), and will grant Sinclair options to acquire two of its stations, the CW affiliate WPWR in Chicago, IL, where FTS currently has a duopoly, and Fox affiliate KTBC in Austin, TX, for potential proceeds of approximately $15 million and $160 million, respectively.
“Completion of the stations acquisition by 21st Century Fox is anticipated for the second half of this calendar year, subject to the satisfaction of customary closing conditions, including regulatory approvals, and is expected to be coordinated with the closing of Sinclair’s proposed acquisition of Tribune.”