The nation’s largest independent TV station group just got larger.
Fox Television Stations Inc. has completed its acquisition of WATL-TV, the UHF Fox Broadcasting affil in Atlanta, from Greenwich, Conn.
-based Renaissance Communications Corp.
Terms of the transaction weren’t disclosed, but the deal for the station in the nation’s 10th-largest market has previously been estimated to be worth more than $ 50 million (Daily Variety, Feb. 2).
Indie group’s reach up to 23.5% of U.S.
With the acquisition of its eighth TV station, Fox expands the reach of its O&Os from just under 22% of the country (with stations in New York, Los Angeles, Chicago, Washington, D.C., Houston, Dallas and Salt Lake City) to slightly more than 23.5%.
Federal Communications Commission rules prohibit anyone from owning more than 12 TV stations or having broadcast outlets with a reach of more than 25% of the U.S.
Renaissance recently grabbed the Atlanta station and several others from Chase Communications, which bought WATL in January 1990 along with WXIN-TV in Indianapolis and two D.C. radio stations for $ 120 million.