Local TV

Local TV

Infobox Company
name = Local TV LLC

slogan = The Vision You Can't Ignore]
type = Private
genre =
foundation = 2007
founder =
location_city = Fort Wright, Kentucky
location_country = United States
location =
locations =
area_served =
key_people = Bobby Lawrence, CEO
industry = Broadcast television
products = Television stations
services =
market c

revenue =
operating_income =
net_income =
assets =
equity =
owner =
num_employees =
parent = Oak Hill Capital Partners
divisions =
subsid =
homepage = http://www.localtvllc.com/

footnotes =
intl =

Local TV LLC is a limited liability corporation, owned by Oak Hill Capital Partners, which operates 18 local network-affiated television stations in the United States.cite web|title=About Us|url=http://www.localtvllc.com/aboutus/|work=localtvllc.com|publisher=Local TV LLC|format=Web|date=August 2008|accessdate=2008-08-24|quote=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.] cite pressrelease|title=Press Room|url=http://www.localtvllc.com/pressroom/|publisher=Local TV|date=2008-08-22|accessdate=2008-08-24|quote=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....]

History

Local TV was created in December 2007, 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."cite pressrelease|title=The New York Times Company Reports April Revenues|url=http://phx.corporate-ir.net/phoenix.zhtml?c=105317&p=irol-pressArticle&ID=1003528&highlight=|format=The New York Times Company Financial Report|publisher=Business Wire|date=2007-05-07|accessdate=2008-08-23|quote=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.] At 12:01 a.m., Local TV assumed ownership of the nine television stations, located in "eight mid-sized markets."

On December 21, 2007, Tribune Company and Local TV agreed to form a "broadcast management company" to provide management services to both Tribune Company's and Local TV's stations.cite pressrelease|title=Tribune and Local TV to Form Broadcast Management Company|publisher=Tribune Company|date=2007-12-20|accessdate=2008-08-24|url=http://www.tribune.com/pressroom/releases/2007/12212007.html|quote=Tribune Company and Local TV have entered into a letter of intent to create a third-party broadcast management company which will provide shared services to all of the stations Local TV and Tribune Company own, respectively.] 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.cite news|url=http://www.bizjournals.com/milwaukee/stories/2008/07/14/daily11.html?ana=from_rss|title=Sale of Channel 6, Seven Other TV Stations Closes|work=The Business Journal of Milwaukee|publisher="bizjournals.com" (American City Business Journals, Inc)|date=2008-07-14|accessdate=2008-08-24] The Tribune Company operates 23 television stations.cite web|title=About the Tribune Company|url=http://www.tribune.com/about/index.html|format=Web|publisher=Tribune Company|accessdate=2008-08-24]

Officers

President and chief executive officer (CEO) is 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.cite pressrelease|title=Local TV Announces Bobby Lawrence as CEO|url=http://www.localtvllc.com/pressroom/2007/12/20/local-tv-announces-bobby-lawrence-as-ceo/|publisher=Local TV LLC|date=2007-12-20|accessdate=2008-08-24] cite web|url=http://fjallfoss.fcc.gov/prod/cdbs/forms/prod/getattachment_exh.cgi?exhibit_id=534573|title=Ownership Report for Commercial Broadcast Stations|publisher=FCC|accessdate=2008-08-24]

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

tations

References

Related audiovisual resources

* [http://video.google.com/videoplay?docid=6266175561619041637 "Local TV & Local Responsibility Part One: Stop Big Media"] . The National Conference for Media Reform. The Oklahoma History Center, Oklahoma City, Oklahoma. May 19, 2007. 25 mins. Video clip. "video.google.com" (Google). (Part 1 of 3-part videotaped "Panel Discussion on the takeover of New York Times Corporation ['] s news stations by Oak Hill Capital Partners and its holding company.")

External links

* [http://www.localtvllc.com/ Local TV LLC] – Official Website


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