Bush associates still consolidating their hold on US media

[MiaCulpa]

Longtime associates of President George W. Bush are consolidating their hold on American media with a string of recent purchases, RAW STORY can report.

Conservative media mogul Rupert Murdoch's News Corp. announced of late the sale of 8 of its US television stations to a private equity firm -- Oak Hill Partners -- for an estimated $1.1 billion dollars that is expected to close sometime in 2008.

The deal leaves Murdoch with another 27 television stations in major US cities such as Boston, New York City, and Los Angeles, as well as The New York Post, a controlling interest in BSkyB, movie studio 20th Century Fox, and Wall Street Journal publisher Dow Jones & Co Inc.

Oak Hill Partners lead investor Robert M. Bass, a longtime associate of George W. Bush, is also the founder of Ft. Worth, Texas-based Bass Brothers Enterprises. Oak Hill issued a statement announcing the stations would be jointly managed by a broadcast holding company, Local TV, that was created by Oak Hill for the purpose of purchasing 9 other television stations from The New York Times previously this year.

Full article here:

http://rawstory.com/news/2007/Bush_associates_consolidate_hold_on_US_1226.html

Diggs, reddit always appreciated! ;) Hope everyone's holiday season is wonderful. --Diane