Blog Post

NYTCO Broadcast Group Sold To Oak Hill Capital Partners

As promised in 2006, the New York Times Company is shedding its broadcast business: the nine-station division is being sold to Oak Hill Capital Partners for $575 million in a transaction expected to close during the first half of this year subject to regulatory approvals. Robert M. Bass is the lead investor in the PE firm. The acquisition is the latest example of PE interest in media properties. Release.
At the time of the announcement, NYTCO CEO Janet Robinson said selling the division would allow the company “to sharpen our focus on developing our newspaper and rapidly growing digital businesses.”
NYTCO Puts Broadcast Group On The Block; Wants To Focus On Print, Digital
@ Media Week: UBS Day 3: NYTCO Execs On Dual-Class Structure, Boston Globe, M&A: TimesSelect