CHRIS CRAFT INDUSTRIES INC

CHRIS CRAFT INDUSTRIES INC

Previous company name
NATIONAL AUTOMOTIVE FIBRES INC
Name change date
11/12/1968
Company Overview
The company is involved primarily with television broadcasting. It was founded in 1928 in Detroit as National Automotive Fibers, Inc. The registered business office of the company is located in New York City, New York.
The company operates approximately ten television stations across the country.
The company is active and operational, together with its subsidiaries, in the United States.
Some of its listed subsidiaries are BHC Communications, Inc. and United Paramount Network.
BHC Communications, Inc. operates nine television stations in the United States, including stations in the New York City and Los Angeles metropolitan areas.
United Paramount Network is a television network that broadcast in more than 200 markets in the United States.
Business Summary
Chris-Craft Industries Inc. is principally engaged in television broadcasting, conducted through its majority owned (80% at February 28, 2001) subsidiary, BHC Communications, Inc. (BHC), which owns 100% of Chris-Craft Television, Inc., 100% of Pinelands, Inc. and, as of February 28, 2001, 57.9% of United Television, Inc. BHC operates six very high frequency television stations and four ultra high frequency television stations, together constituting Chris-Craft’s Television Division. The principal source of revenues for BHC stations is the sale of advertising time to national and local advertisers.
Description and history
Chris-Craft Industries Inc. (Chris-Craft) is principally engaged in television broadcasting, conducted through its majority owned (80% at February 28, 2001) subsidiary, BHC Communications, Inc. (BHC), which owns 100% of Chris-Craft Television, Inc., 100% of Pinelands, Inc. and, as of February 28, 2001, 57.9% of United Television, Inc. (UTV). Chris-Craft was organized in 1928 and adopted its present name in 1962.

BHC operates six very high frequency (VHF) television stations and four ultra high frequency (UHF) television stations, together constituting Chris-Craft’s Television Division. In general, UHF stations are at a disadvantage relative to VHF stations, because UHF frequencies are more difficult for households to receive. This disadvantage is eliminated when a viewer receives the UHF station through a cable system. Commercial broadcast television stations may be affiliated with one of the three major national networks (ABC, NBC and CBS); three more recently established national networks (Fox Broadcasting Company, United Paramount Network, and The WB Network), which provide substantially fewer hours of programming; or may be independent.

The principal source of revenues for BHC stations is the sale of advertising time to national and local advertisers. Such time sales are represented by spot announcements purchased to run between programs and program segments and by program sponsorship. Most advertising contracts are short-term. The relative contributions of national and local advertising to BHC’s gross cash advertising revenues vary from time to time. BHC’s television business is seasonal, like that of the television broadcasting business generally. Advertising is generally placed with BHC stations through advertising agencies, which are allowed a commission generally equal to 15% of the price of advertising placed. National advertising time is usually sold through a national sales representative, which also receives a commission, while each station’s sales staff sells local advertising time. UTV has established a national sales representative organization, United Television Sales, Inc., which represents nine of the 10 BHC stations.

Founded in Detroit as National Automotive Fibers, Inc

Business Line
Involved primarily with television broadcasting
Subsidiary

Advisor
PRICEWATERHOUSECOOPERS LLP
IPO date

US SIC Code
4833
Company Address
767, Fifth Avenue

City province or state postal code
10153, NEW YORK, NY
Phone: +1 212 421 0200
Fax: +1 212 935 8462
Country address: UNITED STATES OF AMERICA
Website url: www.chriscraft.net