BHC Communications
| public corporation | |
| Industry | Television broadcasting |
| Fate | sold to News Corporation |
| Successor | Fox Television Stations |
| Founded | 1977 |
| Defunct | July 31, 2001 |
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Key people
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| Services | TV network |
| Revenue | $443.5 million (1997) |
| Parent | Chris-Craft Industries |
| Divisions | |
| Subsidiaries |
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| Industry | Television Broadcasting Stations (4833) |
| Fate | sold |
| Defunct | 2001 |
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Key people
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John Siegel, chair (1996–2001) |
| Revenue | $443.5 million (1997) |
| Parent |
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| Divisions | |
| Subsidiaries |
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BHC Communications, Inc. was the holding company for the broadcast property of Chris-Craft Industries. BHC is said to stand for "broadcasting holding company".
The firm was originally incorporated in 1977 as BHC, Incorporated by Chris-Craft Industries to hold its two existing incorporated independent television stations, KCOP Television (KCOP in Los Angeles) and Oregon Television (KPTV in Portland, Oregon), within BHC's Chris-Craft Television subsidiary. That same year, Chris-Craft purchased a share of 20th Century Fox. In 1981, the 20th Century Fox share, then at 20 percent, was traded for 19% of United Television. United owned three other television stations: independent KMSP-TV in Minneapolis, ABC affiliate KTVX in Salt Lake City, and NBC-affiliated KMOL-TV (now WOAI-TV) in San Antonio.
Warner Communications, Inc. purchased a 42.5 percent share in BHC for $200 million in convertible preferred stock. With the Time, Inc./Warner Communications, Inc. merger into Time-Warner, Inc., BHC got a return of some stock held by Warner, cash, and Time Warner convertible preferred stock in Time Warner, a total of valued at $2.3 billion over a six-year period. With this settlement, BHC was reincorporated as BHC Communications, Inc. with stock restructured with two classes of stock giving Chris-Craft most of the voting power. Some BHC's shares were distributed to other Warner stockholders made it a publicly traded corporation. Some the payment were used to buy back BHC class A shares. WWOR-TV, an independent station (and national superstation) in the New York City area, was purchased in 1992 for $313 million. In 1995, United Sales Enterprises was formed to hand national spot advertising time for all BHC/United stations.
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Wikipedia