Posted on 07/14/2008 4:57:01 PM PDT by Aussie Dasher
GLOBAL media group News Corp (parent company of the publisher of NEWS.com.au) has completed the sale of eight Fox network affiliated television stations for $US1.1 billion ($1.14 billion).
The stations were sold to Oak Hill Capital Partners and include WJW in Cleveland, KDVR in Denver, KTVI in St Louis, WDAF in Kansas City, WITI in Milwaukee,KSTU in Salt Lake City, WBRC in Birmingham and WGHP in Greensboro.
"News Corporation continues to be one of the country's strongest and most successful station groups,'' the company said.
(Excerpt) Read more at news.com.au ...
not much to the article.
In the beginning of TV, stations were unaffiliated, then joined together in the NBC network. Then NBC split into NBC and ABC, and finally CBS joined the group to form the big three. During this time and later began a slow process of stations losing their independence and becoming network property.
In turn, this has caused the demise of much of broadcast television. Because by losing local ownership and programming in favor of generic mandatory network broadcasting, production has been reduced to a former shadow of itself, and stations can only broadcast what they are fed.
But with the advent of widespread cable, the network castles are finally falling down. Perhaps the eventual result will be the return of locally produced programming, independent syndicated shows, and enough alternatives on the broadcast dial to at least stay competitive with cable channels.
btt
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