Deals
Oak Hill Said to Reap 240% Gain in Sale of Local TV Stations
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Oak Hill Capital Partners, the private-equity firm backed by Texas financier Robert M. Bass, will reap more than a 240 percent gain selling Local TV Holdings LLC to Tribune Co. for $2.73 billion, a person familiar with the matter said.
Tribune, a Chicago-based media company, said today that it would buy all 19 television stations owned by Newport, Kentucky-based Local TV. The all-cash purchase would be the biggest U.S. broadcasting deal in six years.