 Most of the stations that carried the network's programming also had little to no prior history as a major network affiliate, however, some (among them, its outlets in the former three aforementioned markets where it owned a station) were once affiliated with at least one of the Big Three networks or even the DuMont Television Network earlier in their histories.As Fox put together its new sports division to cover the NFL, it sought to affiliate with VHF stations (broadcasting on channels 2 to 13) that had more established histories, and carried more value with advertisers.On May 23, 1994, Fox agreed to purchase a 20% stake (an investment of $500 million) in New World Communications, a media company controlled by New York City-based investor Ronald Perelman, who purchased the company in 1989 in the midst of its restructuring under a Chapter 11 bankruptcy declaration.