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Cable giant Comcast is looking to acquire the 50 percent of New England Cable News it does not own from Hearst Corp, according to several reports. Talks are ongoing, but so far there is no deal.
“NECN acknowledges that our two parent companies are engaged in discussions about a change in ownership in which Comcast is considering the purchase of Hearst’s Interests,” Charles Kravetz, president of NECN said in statement.
If a deal is struck, it would follow other changes Comcast has recently made in its operations, including layoffs in New England and the consolidation of its cable news channels in Philadelphia and Washington, D.C.
Hearst could use the cash as it looks for ways to streamline expenses in its struggling newspaper division.
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