Virginia Philanthropist, Art Collector, Billionaire John Kluge Dies

0
414

CHARLOTTESVILLE (AP).- John Kluge, once listed as the wealthiest man in America, who built an investment in a radio station into a broadcasting empire that was the forerunner to Fox Television, has died. He was 95. The University of Virginia said Wednesday that Kluge (pronounced KLOOG-ee) died Tuesday at his home near Charlottesville, Va. In 1983, Kluge took Metromedia Co. private in a leveraged buyout and then sold off properties piecemeal for $4.65 billion, including the 1985 sale of seven big-city television stations to Rupert Murdoch for $2 billion. The stations, including ones in New York, Los Angeles, Los Angeles and Houston, served as the basis for Murdoch’s Fox television network. Kluge personally netted more than $1.6 billion in the sales. “I felt that television was going to change,” Kluge told Forbes magazine.