Fox Television Wednesday agreed to sell KTVX-TV Salt Lake City, which it is
acquiring as part of a $5.3 billion purchase of Chris-Craft Industries Inc.
The station's sale is necessary to win Department of Justice approval for the
Chris-Craft merger. KTVX is an ABC affiliate, and Fox already operates an
owned-and-operated station in the market, KSTU-TV. Combined, the stations
represent two of the market's top four TV outlets and account for 40 percent of
TV spot ad revenue.
A forced sale of one of the stations has been expected since Fox announced
plans to buy Chris-Craft and its 10 TV stations last August. A federal judge
must OK the agreement, and the eventual buyer of KTVX must be approved by the
'Without this divestiture, the businesses that purchase broadcast-television
spot advertising would have lost a significant competitive alternative,' said
Constance Robinson of the DOJ's antitrust division.
A separate Federal Communications Commission review of the Chris-Craft merger
is still under way. The agency told Fox to hand over more financial information
to prove that the New York Post's survival will be threatened if parent
News Corp. is forced to sell the newspaper when Fox acquires a second New York
News Corp. already has a waiver of the newspaper/broadcast cross-ownership
ban, but critics of the deal said it shouldn't be extended to allow the company
to own a second station.