Rupert Murdoch Gets Some Extra Walking Around Money: Sells 8 TV Stations For $1.1 Billion

A little bit of corporate housekeeping at News Corp. in advance of the company’s earnings call: It has completed the sale of 8 of its Fox television stations to private equity group Oak Hill Partners for $1.1 billion. The deal, announced last December, is a good reminder that Rupert Murdoch has a mass of resources at his disposal if he feels like deal-making — say, bundling up MySpace and some cash for a slug of Yahoo (YHOO), or something along those lines. Meanwhile, SAI’s Michael Learmonth has been predicting that more of the networks will be willing to part with their owned and operated stations (O&Os) in the near future. Let’s see if this kicks off a trend.

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