writenews.com Index Advertising Classifieds Feedback Feeds Homepage Linking to Us Our Blog Network Sitemap Subscribe Other Resources Bloggers BlogTM Gamers GameTM HowToWeb® The Internet Writing Journal® Media Books MediaCynic.com ReadersRead.com Shoppers ShopTM Shopping BlogTM Traders TradeTM Watchers Watch WriteJobs.com Writers Write® WWForums.com

News, features and resources for media and publishing professionals. Tuesday, August 15, 2000 Blogs | Subscribe | Interviews | Events | Films | Book Blog Media Cynic | Forum | Advertising | Classifieds | Jobs Chris-Craft, BHC and UTV to be Acquired by News Corporation Chris-Craft Industries, BHC Communications and United Television, which together own 10 television stations and other assets, have announced that they had agreed to be acquired by News Corporation and Fox Television Stations. The new stations will be operated under Fox Television Stations within News Corporation's majority-owned subsidiary, Fox Entertainment Group. The transaction, which includes the acquisition of all of the shares of Chris-Craft Industries, Inc., BHC Communications, Inc., and United Television, Inc., is expected to be completed News Corporation's fiscal year ending June 30, 2001. The transaction is subject to certain closing conditions, including regulatory and shareholder approvals. Herbert J. Siegel, Chairman and President of Chris-Craft, said: ``This merger delivers substantial value to all of the Chris-Craft, BHC and UTV shareholders and gives them the opportunity to participate further in the growth of News Corporation. Rupert Murdoch, a global visionary, has built News Corporation into one of the world's pre-eminent media companies. We have the utmost confidence in News Corporation and Fox Television management's ability to capitalize on our combined assets. I am pleased, as I'm confident our shareholders will be, to hold a significant investment in News Corp.'s dynamic future.'' News Corporation Chairman and Chief Executive Rupert Murdoch said the Chris-Craft stations, located in major television markets throughout the United States, complement News Corporation's existing group of 23 owned-and-operated stations. The stations to be acquired are in: New York (UPN-9), Los Angeles (UPN-13), San Francisco (UPN-44), Minneapolis/St. Paul (UPN-9), Phoenix (UPN- 45), Orlando (UPN-65), Portland (UPN-12), Baltimore (UPN-24), Salt Lake City (ABC-4) and San Antonio (NBC-4). ``This transaction gives News Corporation and Fox Television Stations a scarce commodity in a highly profitable industry. Fox will now have duopolies in three of the largest television markets in the US: New York, Los Angeles and Dallas. We are acquiring stations with tremendous upside potential, particularly given Fox's strength in local news, entertainment programming, sports and sales,'' Murdoch said. ``This unique opportunity to increase ratings and revenues through top-market duopolies should quickly deliver substantially increased profits for News Corporation and Fox.'' Click here to return to the homepage of The Write NewsTM Click here to subscribe to our free weekly email newsletter. www.writenews.com Copyright © 1997-2007 by Writers Write, Inc. All Rights Reserved.