MediaPost | Media 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.
L.A. Times - Business
New CEO Zell urges entrepreneurial vigor as firm sheds Wall Street control. ESOP structure may aid performance. After nearly a quarter of a century as a publicly traded corporation, Times parent Tribune Co. reverted to private ownership last week, making a bet that having Wall Street shareholders is more a burden than a boon to a struggling company in a mature industry.