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!