Providence Equity Partners LLC is close to a deal to sell the bulk of its portfolio of Newport Television stations to three broadcasting companies for a total of just over $1 billion, according to people familiar with the matter, the Wall Street Journal is reporting. Nexstar plans to buy the bulk of the 24 stations.
Hulu.com owners Walt Disney Co., Comcast and News Corp. are close to buying out Providence Equity Partners’ stake at a price valuing the company at about $2 billion, said two people with knowledge of the matter. Providence is selling its 10% of Hulu for about $200 million after investing $100 million when the venture began in 2007, according to the people, who weren’t authorized to talk publicly.
