The New York Times Co. to Sell Broadcast Media Group for $575 Million
Authored by dmw on January 4, 2007 - 1:28pm.
 New York, N.Y. - The New York Times Co. has entered into an agreement to sell its Broadcast Media Group, consisting of nine network-affiliated television stations, their associated web sites, and the company's Digital Operating Center, to Oak Hill Capital Partners for $575 million.
"We believe that our focus now should be on the development of our newspapers and our rapidly growing digital businesses and the increasing synergies between them," said Janet Robinson, CEO of The New York Times Co.
The transaction is subject to regulatory approvals and is expected to close in the first half of 2007.
Related Links:
http://tinyurl.com/yzgj7n (Press Release)
http://www.nytco.com/company-properties-broadcast.html
http://www.nytco.com/company-othersites.html#broadcast
http://www.nytco.com
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