8 January 2007
The New York Times is on its way out of the television business, having dealt its Broadcast Media Group to Oak Hill Capital Partners, a diversified investment firm with lots of holdings, none of them in broadcast. The Times retains its two New York radio stations, WQXR (classical) and WQEW (Radio Disney under a local marketing agreement).
So what happens to KFOR and KAUT, the two Oklahoma City stations that were sold? Nothing, at least at first. Oak Hill has given no indication that it plans to sell off any of the stations they're buying.
Oak Hill was founded by Fort Worth billionaire Robert Bass; among the partners are Phil Knight of Nike and Microsoft's Bill Gates.Posted at 10:18 AM to City Scene , Overmodulation