FOX Network

Fox Television Stations, Inc. is a group of television stations located within the United States which are owned-and-operated by the Fox Broadcasting Company, a subsidiary of the Fox Entertainment Group, part of 21st Century Fox. FTS also produces the Fox program COPS and overseees the syndicated programming service MyNetworkTV.

Fox Television Stations was formed in April 1986 after the acquisition of the Metromedia-owned independent stations by the 20th Century Fox film studio, at the time jointly owned by Australian media mogul Rupert Murdoch's News Corporation, and Denver-based billionaire Marvin Davis. These stations would later become the basis of the Fox television network, which launched in October 1986. Not long after the Metromedia deal was made, Murdoch purchased Davis's shares and News Corporation assumed complete control of 20th Century Fox.

Initially FTS was a semi-autonomous unit in which News Corporation owned over 99 percent of the equity but only 24 percent of the voting power; the balance was held personally by Murdoch. Federal Communications Commission regulations of that era prohibited foreign interests or non-American citizens from controlling more than 25 percent of an FCC-licensed broadcast station. Though News Corporation was still based in Australia, Murdoch had become a naturalized U.S. citizen in 1985, and the nominal transfer of a majority voting interest to Murdoch was sufficient to get around this hurdle. The quirk was removed permanently when News Corporation reincorporated in the U.S. in 2004. The Fox network itself and affiliated cable channels were not affected by these regulations.

Starting with the original six stations, Fox Television Stations gained the bulk of its group through two large transactions: the 1997 purchase of New World Communications, succeeding a 1994 business deal between the two companies which led to all of New World's stations switching from other networks to Fox during 1994-95; and the 2001 acquisition of the Chris-Craft/United group, which gave Fox ownership of several stations then affiliated with the UPN network, and also created several duopolies (two stations in the same market owned by the same company).  From Wikipedia, the free encyclopedia