Saints Owner Benson To Sell Majority Stake In WVUE-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, Fox8 WVUE-TV, to Alabama-based Raycom Media.
The Advocate 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.
