Our blog partner, Ohio Media Watch, is reporting today on a Cleveland television matter that WJW/Fox 8 has been sold to Oak Hill Capital Partners, along with seven other Fox owned and operated television stations.The expected sale should be done by fall of 2008.
Oak Hill runs Local TV, LLC, which had been headed by former Jacor radio executive Randy Michaels. Just this week, Sam Zell closed on his purchase of the Tribune Company which owns both newspaper and television stations. Michaels was quickly promoted to oversee the broadcast and interactive division of Tribune Company by Mr. Zell.
Now Local TV and Tribune will create a third-party broadcast management company which will provide shared services to ALL of the stations Local TV and Tribune own respectively. This leads us to believe WJW could ultimately be digested into the Zell Tribune media empire.
Look for more on this in the coming months. In the meantime, feel free to read more of the details on Ohio Media Watch.
