Private equity firm Oak Hill Capital Partners said Monday that it has completed the acquisition of eight Fox network affiliated television stations from News Corp. (NWS) for about $1.1 billion.
The Fox Stations will be managed by the senior executives of Local TV LLC, the television platform Oak Hill created in 2007 following the purchase of nine stations from the New York Times Company.
Following the completion of acquisition, Geolo Capital, the private equity investment arm of the John Pritzker family, joined the Local TV ownership group as a minority investor.
NWS closed Monday's regular trading session at $14.42, down 5 cents. In the after-hours, the shares gained 6 cents.
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