Rupert Murdoch’s News Corporation is to sell nine of its 35 Fox TV stations having appointed an adviser for the sale.
The stations most likely to be sold are in Fox Television Stations’ – a subsidiary of Fox TV – smallest markets and include WDAF in Kansas City, WHBQ in Memphis, KDVR in Denver and WJW in Cleveland.
Also up for sale are WGHP in Greensboro, KTVI in St Louis, WITI in Milwaukee, KSTU in Salt Lake City and WBRC in Birmingham.
News Corp will not be selling any stations in cities where it has two stations.
The company said: “Following the planned sale of the nine stations, FTS will remain one of the nation’s strongest and most successful station groups, with nine duopolies in major markets as well as single stations in eight mid- to large-sized markets.”
News Corp’s latest financial results showed that its revenues for the quarter ending March 31 increased 21% to $7.5 billion, with its net income increasing 6% to $871 million (see News Corp Revenues Grow 21%).
The company is currently negotiating a £2.5 billion takeover of Dow Jones, publisher of the Wall Street Journal.
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