New York Times Co. to Sell 9 TV Stations

From United Press International:

NEW YORK, Sept. 13 (UPI) -- The New York Times Co. will sell its Broadcast Media Group, which includes nine network-affiliated television stations and their
related properties.

"We believe a divestiture would allow us to sharpen our focus on developing our newspaper and rapidly growing digital businesses, and the synergies between them, thereby increasing the value of our company for our shareholders," said Janet L. Robinson, the company's chief executive officer.

According to the Wall Street Journal, Sept 13, 2006, this move represents a change of course by the Times Co., which had said "it had no plans to sell the unit" three months earlier.

The stations included in the group are WHO-TV in Des Moines, Iowa (NBC); KFSM-TV in Fort Smith, Ark. (CBS); WHNT-TV in Huntsville, Ala. (CBS); WREG-TV in Memphis (CBS); WQAD-TV in Moline, Ill. (ABC); WTKR-TV in Norfolk, Va. (CBS); KFOR-TV in Oklahoma City (NBC); KAUT-TV in Oklahoma City (MyNetworkTV); and WNEP-TV in Scranton, Pa. (ABC). This group of stations accounted for 4% of the Times Co.'s total revenue in 2005.

It will be interesting to see whether these stations are bought singularly or as a group and by whom they are bought.