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News Corp (NWSA -0.2%) acquires SportsTime Ohio, a regional sports network based in Cleveland....
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Friday, December 28, 2012, 11:56 AM ETNews Corp (NWSA -0.2%) acquires SportsTime Ohio, a regional sports network based in Cleveland. Terms of the deal have not been disclosed, but the price tag is estimated to be about $230M. The deal is part of an effort by the company to ramp up efforts to control the rights to key sports teams in response to Time Warner Cable's $3B deal in 2011 to carry the Los Angeles Lakers basketball games on its SportsNet Channel.
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