News Corp selling eight television stations to Oak Hill Partners

News Corp selling eight television stations to Oak Hill Partners

News Corp has announced that they are now selling off eight U.S. television stations owned by them to private equity firm Oak Hill Partners.

The deal is worth around $1.1 billion and they expect this deal to be complete by the third calendar quarter of next year.

After this deal is over, News Corp would be left with around 27 stations in major markets in the US including in metros like New York, Boston and Los Angeles.

News Corp also owns the New York Post, Dow Jones & Co Inc along with TV stations including WJW in Cleveland, Ohio; KDVR in Denver, Colorado; and WGHP in Greensboro, North Carolina; KTVI in St. Louis, Missouri; WDAF in Kansas City, Missouri; WITI in Milwaukee, Wisconsin; KSTU in Salt Lake City, Utah; and WBRC in Birmingham, Alabama.