03/28/2008 02:45 am ET Updated May 25, 2011

News Corp Sells 8 TV Stations For $1.1 Billion

Rupert Murdoch's News Corp will sell eight U.S. television stations to private equity firm Oak Hill Partners for about $1.1 billion.

News Corp said in a statement Saturday the deal was expected to close in the third calendar quarter of next year.

The sale of the Fox affiliate stations in small markets will leave News Corp with 27 stations in major markets including New York, Boston and Los Angeles.

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