News Corp to sell Fox-affiliated TV stations
14 Jun 2007
Global media group News Corporation says it will sell nine of its Fox-affiliated TV stations in the US, as it prepares to acquire Dow Jones.
Though
no reason were assigned for the sale, the company said
the stations to be hived off are in some of News Corp''s
smallest markets, such as Utah, North Carolina and Ohio.
News Corp will, however, retain its major TV stations
and said it would maintain a strong position in the
US television market even after the sale.
In the mean while, the controlling shareholders of Dow Jones, the Bancroft family, who own 64 per cent of the voting rights, have asked for guarantees from News Corp on the continued independence of the group''s publication, The Wall Street Journal.
These
guarantees are believed to be crucial to the success
of News Corp''s bid for Dow Jones, reports The Wall
Street Journal.
