NEW YORK--(BUSINESS WIRE)--Fox Television Stations, LLC, a unit of 21st Century Fox (NASDAQ: FOXA, FOX), announced today that it anticipates receiving approximately $350 million in proceeds resulting from the Federal Communication Commission’s recently completed reverse auction for broadcast spectrum.
The anticipated proceeds reflect the FCC’s acceptance of one or more bids placed by Fox Television Stations during the auction to relinquish spectrum used by certain of its television stations. This spectrum sale is not expected to lead to any material change in the operations or results for Fox Television Stations or for any of the affected television markets.
Fox Television Stations anticipates it will receive the proceeds in the current calendar year.
About Fox Television Stations
FOX Television Stations is one of the nation's largest owned-and-operated network broadcast groups, comprising 28 stations in 18 markets and covering nearly 37.35 % of U.S. television homes. This includes six duopolies in the top 10 markets: New York, Los Angeles, Chicago, Dallas, Washington, D.C. and Houston; as well as duopolies in Minneapolis, Phoenix, Orlando and Charlotte.
Cautionary Statement Concerning Forward-Looking Statements
This document contains certain "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. These statements are based on assumptions and involve known and unknown risks, uncertainties, and other factors, which may cause the actual results or performance or achievements referenced herein to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements or information. Where, in any forward looking statements, we express an expectation or belief as to future results or events, such expectation or belief is based on the current plans and expectations of our management and expressed in good faith and believed to have a reasonable basis, but there can be no assurance that the expectation or belief will result or be achieved or accomplished. The "forward-looking statements" included in this document are made only as of the date of this document and we do not have any obligation to publicly update any "forward-looking statements" to reflect subsequent events or circumstances, except as required by law or regulation