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BUSINESS
December 24, 2007 | From Times Staff and Wire Reports
News Corp. said it would sell eight of its owned-and-operated Fox network affiliated television stations to private equity investment firm Oak Hill Capital Partners for about $1.1 billion in cash. Oak Hill is the controlling shareholder of Local TV, which was run by Randy Michaels until his agreement last week to become a top executive at Tribune Co. Michaels now runs Tribune's broadcast and interactive group as part of the Sam Zell-led $8.2-billion buyout.
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BUSINESS
June 2, 2000 | Reuters
Oak Hill Capital Partners, an investment firm founded by billionaire Robert Bass last year, said it would buy TravelCenters of America, the No. 1 U.S. operator and owner of highway truck stops, for $731 million. TravelCenters, which employs 13,500 people, has a network of more than 160 truck stops--featuring service stations, fast food outlets, restaurants, repair shops and showers--in 40 states. The company, based in Westlake, Ohio, had $1.5 billion in revenue last year.
BUSINESS
June 25, 1999
* Gannett Co., the U.S. media company that publishes USA Today, offered to buy British regional newspaper group Newsquest for about $1.5 billion in cash. Newsquest started looking for buyers earlier this year. Under the offer, Gannett would pay Newsquest shareholders $7.31 per share in cash for each Newsquest share. Shares in Arlington, Va.-based Gannett fell $2.75 to close at $70.69 on the NYSE. * * Morgan Stanley Dean Witter & Co. said its second-quarter earnings rose 35% to $1.
BUSINESS
November 9, 2004 | From Reuters
General Electric Co. said Monday that it had sold a majority of its Indian back-office unit to exit a non-core business and help the fast-growing unit gain new customers. The sale of 60% of GE Capital International Services, or GECIS, for about $500 million is the biggest deal so far in India's consolidating $3.6-billion back-office industry.
BUSINESS
September 27, 2007 | From the Associated Press
The owner of 134 Wendy's restaurants wants to bid for the nation's No. 3 hamburger chain with two private equity firms. David Karam, president of Cedar Enterprises Inc., said Wednesday that he and his partners had been invited by Wendy's International Inc. to a second round of talks. He is backed by Kelso & Co. and Oak Hill Capital Partners. "I've been involved in the brand," he said. "I see the great potential of it."
BUSINESS
December 21, 2007 | Thomas S. Mulligan and Meg James, Times Staff Writers
The new chairman has vowed to 'rearrange' the staid Tribune Co. for the 21st century. But how? For starters, he brought five fresh faces onto the board to replace what he called 'burghers' from Chicago's business and social elite. He gave the maverick owner of the Las Vegas Sun and Vegas.com a stake in the business. And his chief broadcast deputy inked a deal with another TV station group. That was Day 1. -- -- Tribune Co.'s historic $8.
BUSINESS
June 15, 2006 | Jerry Hirsch and James Rainey, Times Staff Writers
The prospect of a breakup of Chicago-based Tribune Co. and its 11 daily newspapers and 26 television stations would draw intense interest from potential buyers despite skepticism among many investors about the value of traditional media. Several media analysts said that if the Chandler family succeeded in forcing a Tribune breakup, it was far more likely the company would be sold off piecemeal rather than to one or two buyers.
BUSINESS
March 13, 2006 | Peter Pae, Times Staff Writer
Knight Ridder Inc., the nation's second-largest newspaper company, is expected to announce today that it has agreed to be acquired by McClatchy Co. in a deal valued at $4.5 billion, according to a published report. Under the deal approved by Knight Ridder's board Sunday night, McClatchy, based in Sacramento, would pay about $67 a share in cash and stock for the company, according to the New York Times, which cited unnamed sources in an article posted on its website late Sunday.
BUSINESS
December 20, 2007 | Michael A. Hiltzik and Thomas S. Mulligan, Times Staff Writers
Randy Michaels, a veteran broadcasting executive with long-term ties to Sam Zell, will play an important role at Tribune Co. after Zell, as expected, takes over as chairman this week, people close to the company said Wednesday. Michaels' is the first name to surface as Zell begins assembling his management team. A company source said Michaels would probably focus on Tribune's broadcast and interactive businesses.
ENTERTAINMENT
July 1, 2013 | By Meg James
Tribune Co. has agreed to purchase 19 television stations owned by Local TV Holdings in a $2.73-billion deal that is expected to make Tribune the largest television station group in the country. Tribune and Local TV Holdings said early Monday that they had entered into a definitive agreement for Tribune to acquire all of Local TV's television stations in a cash transaction. Local TV's stations are located in 16 markets, including Denver, Salt Lake City, Cleveland and Kansas City.
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