Act III Communications agreed to sell Act III Broadcasting to ABRY Broadcast Partners II L.P., subject to federal approval. The transaction carries an aggregate valuation in excess of $500 million. Boston-based ABRY Partners manages America's largest buy-out fund specializing in the acquisition of broadcasting companies. Los Angeles-based Act III Broadcasting owns eight Fox-affiliated TV stations. Seven of the Act III stations are also affiliates of the United Paramount Network. The stations include: WUTV, Buffalo, N.Y.; WRGT, Dayton, Ohio; WRLH, Richmond, Va.; WVAH, Charleston-Huntington, W.Va.; WNRW, Greensboro, N.C.; WUHF, Rochester, N.Y.; WTAT, Charleston, S.C.; and WZTV, Nashville, Tenn.