Fox Television Stations Inc. has acquired two San Francisco-Bay area television stations, in the latest broadcasting deal.
The company is buying KTVU-TV FOX 2 and KICU-TV 36, following the close of its previously announced swap agreement with Cox Media Group. In exchange, Fox transferred two stations, WHBQ-TV FOX 13 and WFXT-TV FOX 25, located in Memphis and Boston, respectively, to Cox.
The additional stations give Fox duopolies in seven of the top 10 U.S. market. The company owns and operates 28 stations in 17 markets, covering more than 37 percent of U.S. television homes.
Broadcasting deals have heated up as companies look to capitalize on cable fees for local programming. In September, Heartland Media LLC and MSouth Equity Partners agreed to buy WTVA, a Mississippi television station. Before that, Sinclair Broadcast Group Inc. (Nasdaq: SBGI) agreed to pay $120 million to buy Las Vegas TV station KSNV. In May, Gannet Co. Inc. (NYSE: GCI) added six television stations in Texas for $215 million.
For more on the trend, see Broadcasting Stations Beckon Buyers.