Saints owner Tom Benson to sell majority stake in TV station
NEW ORLEANS (AP) New Orleans Saints owner Tom Benson says he plans to sell his majority stake in the city’s Fox affiliate to Alabama-based Raycom Media.
The Advocate (http://bit.ly/2oA57vc ) reports financial terms of the deal were not disclosed Monday. Since 2013, Raycom has provided operational services for WVUE-TV under the control of Benson’s Louisiana Media Co.
Benson – who also owns the NBA’s Pelicans – plans to retain a minority stake in the station.
Benson bought WVUE from Indiana-based Emmis Communications Corp. for $41 million that he purchased in 2008. Under his ownership, the station has earned several journalism awards, including a George Foster Peabody Award and eight national Edward R. Murrow Awards.
Raycom owns or provides services for 63 television stations and two radio stations in 42 markets across 20 states.
Information from: The Advocate, http://theadvocate.com