Quincy Jones, Partners Form Broadcast Company

NEW YORK - Music and television producer Quincy Jones today announced the formation of a minority-controlled broadcasting business and said he is buying television stations in Atlanta and New Orleans.

Investors include Chicago-based Tribune Co., football Hall of Famer Willie Davis, television producer Don Cornelius and TV talk-show host Geraldo Rivera.

The new company, Qwest Broadcasting, has agreed to buy WATL, Channel 36, in Atlanta, from Fox Broadcasting for $150 million. It has also agreed to buy WNOL, Channel 38, in New Orleans for $17 million. The station is owned and operated by Quincy Jones Broadcasting in partnership with Time Warner Inc.