Business news for Mon, 24 Dec 2007 & with words oak+sale. 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.'s $1.1 billion sale of eight TV stations to Oak Hill boosts the group's presence and is likely to benefit Tribune, which runs Oak Hill's Local TV unit.