KEY POINTS:
Rupert Murdoch's News Corp will sell eight US television stations to private equity firm Oak Hill Partners for about US$1.1 billion ($1.46 billion).
The sale of the Fox affiliate stations in small markets will leave News Corp with 27 stations in major markets.
The media giant recently closed a $5.6 billion deal to buy Wall Street Journal publisher Dow Jones & Co Inc in part of a plan to create a global financial news empire.
