|
MUMBAI:
US media conglomerate News Corpwill sell eight of its owned-and-operated
Fox network affiliated television stations to private equity
firm Oak Hill Capital Partners for $1.1 billion in cash.
The
sale is subject to regulatory and other customary conditions
and is expected to close in the third calendar quarter of
2008. News Corporation was advised by Allen & Company
and Hogan and Hartson in the transaction.
Following
the sale of the eight stations to Oak Hill Capital Partners,
Fox Television Stations will have 27 owned-and-operated stations,
nine duopolies in several markets as well as single stations
in nine mid- to large-sized markets.
|
