Emmis eyes News Corp. TV stations
By Dan Trigoboff -- Broadcasting & Cable, 4/4/2003 1:00:00 PM
Emmis Communications Corp. said Friday that it is in preliminary discussions with News Corp. about buying some of its TV stations, along with a piece of Major League Baseball's Los Angeles Dodgers, the latter as part of an outside investment group.
Emmis has been looking to bulk up its TV holdings and divide its radio and TV stations into separate businesses. It currently owns 21 radio stations and 16 TV stations.
It is buying six more radio stations pending Federal Communications Commission approval.
A Los Angeles Times story Friday on the various candidates interested in the Dodgers said Emmis has expressed interest in some of Fox's midmarket stations.
The deal could bring News Corp. more than $500 million for the stations, in addition to more than $300 million for the team.
Fox did not comment, although if the FCC doesn't relax its 35 percent ownership cap, the station owner may have to spin off some properties unless it can convince the agency to grandfather its holdings.
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