Printer Friendly

BUSINESS DIGEST.

COLUMN: BUSINESS DIGEST

N.Y. Times sells TV stations

The New York Times Co. agreed to sell its nine U.S. television stations to Oak Hill Capital Partners LP for $575 million to pay down debt and expand its investments in Internet businesses.

The broadcast business includes two stations in Oklahoma and others in Pennsylvania, Iowa and Arkansas, the New York-based company said yesterday in a statement.

Chairman Arthur Sulzberger is under pressure from shareholders to accelerate revenue growth as readers shift to the Internet and away from publications such as The New York Times and the Boston Globe. The company, which owns the Telegram & Gazette, will use the cash to lower debt and consider acquiring or investing in Internet businesses, spokeswoman Abbe Serphos said in an interview. (Bloomberg News)

From wire service reports
COPYRIGHT 2007 Worcester Telegram & Gazette
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 2007 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Title Annotation:BUSINESS
Publication:Telegram & Gazette (Worcester, MA)
Date:Jan 5, 2007
Words:134
Previous Article:Teen charged with attempted murder.
Next Article:Crash causes power outage.
Topics:


Related Articles
Business Digest.
Business Digest.
Business Digest.
Business Digest.
Business Digest.
Business Digest.
Business Digest.
BUSINESS DIGEST.
Business Digest.
Business Digest.

Terms of use | Privacy policy | Copyright © 2021 Farlex, Inc. | Feedback | For webmasters |