Fox And Cox To Swap 4 Stations In 3 Markets
Fox Television Stations and Cox Media Group (CMG) announced an agreement Tuesday under which FTS will swap its Fox affiliated stations in Memphis (DMA 50) and Boston (DMA 7) for two Cox stations in San Francisco (DMA 6).
As part of the agreement, FTS will acquire from CMG San Francisco’s Fox affiliate KTVU and independent KICU. In exchange, CMG will acquire FTS’ owned-and-operated WHBQ Memphis and WFXT Boston. After the deal closes, the Memphis and Boston stations will remain Fox affiliates.
“The addition of KTVU and KICU to our portfolio of owned-and-operated stations provides us with a compelling growth opportunity in a top-10 market,” said Jack Abernethy, CEO of Fox Television Stations. “Our stations group will benefit from both the strong demographics of the Bay Area market as well as the alignment with our package of sports rights. I’d like to also take this opportunity to acknowledge the talented Boston and Memphis teams for the great work they do. We are confident they will be in good hands with our partners at Cox.”
“This is the first time we have had a media presence in Boston and Memphis, and CMG is excited about the prospects that WFXT-TV and WHBQ-TV bring to our business,” said CMG President Bill Hoffman. “These new stations fit nicely into CMG’s broadcast portfolio, and we look forward to having a great news presence in these two markets and competing hard with the fine local broadcasters who already reside there.”
Hoffman added, “I would like to recognize and thank the outstanding teams at KTVU and KICU. We are proud of the work they have done over the decades to super-serve the San Francisco Bay community with award-winning broadcasting and sales solutions for their advertisers.”
The transaction is subject to regulatory and other customary approvals and conditions.