The New York Times Company announced today it has entered into an agreement to sell its Broadcast Media Group, consisting of nine network-affiliated television stations, their associated Web sites and the Digital Operating Center, to Oak Hill Capital Partners for $575 million. The transaction is subject to regulatory approvals and is expected to close in the first half of 2007. The Broadcast Media Group comprises the following stations:
WHO-TV in Des Moines, Iowa (NBC);
KFSM-TV in Ft. Smith, Ark. (CBS);
WHNT-TV in Huntsville, Ala. (CBS);
WREG-TV in Memphis, Tenn. (CBS);
WQAD-TV in Moline, Ill. (ABC);
WTKR-TV in Norfolk, Va. (CBS);
KFOR-TV in Oklahoma City, Okla. (NBC);
KAUT-TV in Oklahoma City, Okla. (MyNetworkTV); and
WNEP-TV in Scranton, Penn. (ABC).
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