Business news for Mon, 24 Dec 2007 & with words oak+partners. 2 news.

Is News Corp. becoming a publishing centric media conglomerate? That appears to be a pattern emerging following Saturday's announcement that the company would divest of eight U.S. television stations to private equity firm Oak Hill Partners for about $1.1 billion. The divestiture, which is expected to close in the third quarter of 2008, follows News Corp.'s deal to acquire print and online publisher Dow Jones and Co. for $5 billion, and moves to liquidate other TV assets, including stakes in DirecTV and Gemstar TV Guide.

News Corp., the media company controlled by Rupert Murdoch, agreed to sell eight of its Fox network-affiliated television stations in the U.S. to Oak Hill Capital Partners LP for about US$1.1 billion in cash.