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Start Free Trial NowTitle: Wabash Valley sells WOGX: Meredith Corp. to buy Fox 51
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mun non tvm 1 cv CCI1 C IlinftV ALAN YOUNGBLOOD/NYT Regional Newspapers WOGX-TV Fox 51 in Ocala was sold to the company that owns Fox Channel 35 in Orlando. If approved by federal regulators, the sale is expected to be completed tvithin six'months. Meredith Corp. to buy Fox 51 By TYLER E. WARD NYT Regional Newspapers OCALA — The owner of the Orlando area’s Fox network affiliate plans to buy WOGX, the Ocala/Gainesville Fox televi sion network station, WOGX’s parent company announced Friday. Terms of the deal between Indianapolis-based Wabash Val ley Broadcasting, which owns WOGX, and the broadcast group of Des Moines, Iowa-based Meredith Corp. were not disclosed. The acquisition is subject to Federal Communications Commis sion approval. Details of the agreement have not yet been released; if approved by federal regulators, the sale is expected to be completed within six months. “It seemed like a natural tie-in,” said Dan Monroe, operations vice president for Meredith Broadcasting. Monroe said it would be “premature" to speculate on changes Meredith might make in either staffing or program ming, particularly the establishment of a local TV news team. He admitted that the Fox network is eager to have its affili ates develop their own local news units. Nevertheless, he noted, except for periodic newsbreaks, Orlando’s WOFL still lacks nightly newscasts. “It was a very good and fair offer," said Chris Duffy, presi dent and chief executive officer of Wabash Valley. Duffy said the station had not been up for sale. Rather, he said, Phil Jones, Meredith Broadcast president, approached Wabash Valley. “It was an offer we couldn’t refuse,” Duffy said. “Once we were assured of their intentions for the station (that Meredith would keep it operating, rather than serve as a signal repeater for WOFL), we had no difficulty negotiating with them,” Duffy said. “Once we were assured of their intentions for the station (that Meredith would keep it operating, rather than serve as a signal repeater for WOFL), we had no difficulty negotiating with them.” CHRIS DUFFY, PRESIDENT OF WABASH VALLEY The deal would give the company ownership of both WOFL, which broadcasts from the Orlando suburb of Lake Mary, and WOGX. Thus Meridith would be able to provide Fox programming throughout Central Florida and .to much of northern Florida. The planned sale marks the second acquisition of Ocala’s channel Channel 51 since its creation in October 1983. .Original ly owned by a local group of investors using the name Big Sun Productions, WBSP, as it was originally called, was sold to Wabash Valley in December 1986. Wabash Valley, a unit of Terre Haute, Ind.-based Hulman Co., which also owns the India napolis Motor Speedway, changed the station’s call letters to WOGX. It remained an independent station until April 1991, when it affiliated with Fox. Tyler E. Ward is business editor of The Ocala Star-Banner. Stocks as orders ■ average time The February analysts was the week tion 4,138.67, also said Co. industrial durable pected in slowed cent larger nomic up neered demand en Latta consumers willing fell January estimate. modernize, growth ed 0.7
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Clipped 1 month ago
- Gainesville Sun
- Gainesville, Florida
- Mar, 25 1995 - Page 16