NY Times Sells WQEW To ABC; Sells Off TV Stations To Oak Hill
January 4, 2007 at 5:41 PM (PT)
DISNEY/ABC is exercising its option to buy the RADIO DISNEY affiliate it LMAs from The NEW YORK TIMES CO. in NEW YORK, WQEW-A, for $40 million. The deal is set to close in first quarter 2007 and leaves the TIMES with one radio property, Classical WQXR/NEW YORK.
In a separate deal, the TIMES is selling its Broadcast Media Group -- nine TV stations -- to OAK HILL CAPITAL PARTNERS for $575 million. Included in the sale are NBC affiliates WHO-TV/DES MOINES and KFOR-TV/OKLAHOMA CITY; CBS affiliates WREG-TV/MEMPHIS, WHNT-TV/HUNTSVILLE, KFSM-TV/FORT SMITH, and WTKR-TV/NORFOLK; ABC affiliates WQAD-TV/QUAD CITIES and WNEP-TV/SCRANTON; and MY NETWORK TV affiliate KAUT-TV/OKLAHOMA CITY, plus their websites and the group's Digital Operating Center master control.