News Corp. Buys Cleveland Sports Channel for $230 Million


By Chris O'Shea Comment

We first heard about News Corp. purchasing SportsTime Ohio early this month, and now the deal is officially done. According to Reuters, News Corp. bought the regional sports network for about $230 million.

The network broadcasts Cleveland Indians and Cleveland Browns games, as well as local college and high school sports.

As part of a separate deal, News Corp. is going to pay the Indians $40 million per season for the next 10 seasons for the rights to broadcast their games. That’s a lot of money for a mediocre team. Sorry Clevelanders!