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NY Times Station Sale Complete

By Michael Malone -- Broadcasting & Cable, 5/8/2007 11:05:00 AM

The New York Times Company and Oak Hill Capital Partners  announced the closing of the sale of the Times Company’s Broadcast Media Group to Oak Hill.

The deal, which involves nine midsize stations, including WNEP Scranton, was agreed on in January. The stations sold for $575 million.

Oak Hill is a private equity firm with some $4.6 billion of committed capital. Robert M. Bass is the lead investor.

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