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The New York Times has agreed to sell its nine US network-affiliated television stations and their websites for £296 million so it can focus on its digital and newspaper businesses.

After months of negotiations - and subject to regulatory approvals - it is expected the deal to sell the broadcast group to Oak Hill Capital Partners will be complete by June this year.

"These are strong, well-situated stations with very talented employees," said Janet L Robinson, president and CEO of the New York Times Company.

"Over the years they have provided their communities with high-quality programming and have contributed significantly to our financial performance.

“We believe, however, that our focus now should be on the development of our newspapers and our rapidly growing digital businesses and the increasing synergies between them."

The Broadcast Media Group comprises:

• WHO-TV in Des Moines, Iowa (NBC)

• KFSM-TV in Ft. Smith, Ark. (CBS)

• WHNT-TV in Huntsville, Ala. (CBS)

• WREG-TV in Memphis, Tenn. (CBS)

• WQAD-TV in Moline, Ill. (ABC)

• WTKR-TV in Norfolk, Va. (CBS)

• KFOR-TV in Oklahoma City, Okla. (NBC)

• KAUT-TV in Oklahoma City, Okla. (MyNetworkTV)

• WNEP-TV in Scranton, Penn. (ABC)

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Written by
Oliver Luft

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