The Company That Bought WREG Eyes Another Property In Memphis Along with Eight Other Stations.

I will admit I’ve been a little lax these days about keeping up with this blog. That darned work thing is dragging me away. But some folks have my back and I thank them. I got this tidbit from Reuters about Oak Hill which bought the former NYTimes broadcast group apparently bidding on WHBQ and the other Fox stations on the block.

By Megan Davies and Kenneth Li

NEW YORK, Nov 13 (Reuters) – Private equity firm Oak Hill bid for the nine television stations media conglomerate News Corp (NWSa.N: Quote, Profile, Research) put up for sale in June, two sources familiar with the situation said on Tuesday.

Final bids were due on Friday for the nine Fox-affiliated television stations which include TV stations in Cleveland, Ohio and Denver, Colorado. Rupert Murdoch’s News Corp said in June it retained Allen & Co as adviser to sell the stations.

The Oak Hill bid was around $1.1 billion to $1.2 billion, the sources estimated.

Now, some people will get excited about this in Memphis but I would think that because of existing laws, if Oak Hill is successful, WHBQ is just going back on the block after Oak Hill cherry picks the properties it wants and can keep. So this means more turmoil for the folks at WHBQ until the dust really settles for good.

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2 Comments on “The Company That Bought WREG Eyes Another Property In Memphis Along with Eight Other Stations.”

  1. Doug J. Says:

    You never know… couldn’t they keep both Memphis stations, the way Clear Channel has 24 & 30?

    They could create all types of synergies… Purvis and Barr switching places… Getting “the Watchdog” over on Highland…

    Okay, maybe I’m talking crazy right now.

  2. JJ Says:

    Shut….if the FCC would approve both properties, they would have the same 9 & 10 newscast situation that 24 & 30 does…they would fire half of the news staff and be calling themselves geniuses….why all the overhead when the newscast can be duplicated as CC has so wonderfully done? The new moniker would be “Where local news comes first, it’s on your side and it repeats so you don’t miss it.” Hearing that tag line 15 times in the cast would have me hooked.


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