You might say this company believes strongly in homegrown media. Local TV is a leading television station operator with more than 15 broadcast outlets serving mostly small- and mid-sized markets. About half the company's portfolio is made up of FOX network affiliates; it also operates stations affiliated with ABC, CBS, and NBC. Local TV's stations are located in more than a dozen states, mostly in the Midwest and Southeast. The company was formed in 2007 by private equity firm Oak Hill Capital Partners.