New York Times to Sell Its Broadcast Group
From Reuters
New York Times Co. said it would put its broadcast media group, including nine television stations, up for sale to focus on building its print and Internet businesses.
The broadcast group, which includes affiliates of television networks such as NBC in Iowa and CBS in Arkansas, accounted for about 4% of total company revenue in 2005. The unit is expected to post revenue of $150 million in 2006 with operating profit of nearly $33 million.
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