News Corp. To Sell Nine Stations
June 21, 2007
News Corp. is set to sell nine of its Fox-affiliated TV stations, leaving the company with 26 stations. Among the possible bidders are TV groups and private equity firms.
The nine stations on the block are WJW in Cleveland; KDVR in Denver; KTVI in St. Louis; WDAF in Kansas City, Kansas; WITI in Milwaukee; KSTU in Salt Lake City; WBRC in Birmingham, Alabama; WHBQ in Memphis and WGHP in Greensboro, North Carolina. All are located in smaller markets where News Corp. has no duopoly. The remaining stations in its portfolio are all in markets where it does have a duopoly.
The first sale is expected to happen in a few months, and the group may be sold piecemeal to different buyers.