Times to Sell TV Stations

New York Times (NYT Quote - Cramer on NYT - Stock Picks) put its nine local television stations on the block, saying it wants to focus on its core newspaper and fast-growing digital operations.

The New York-based publisher said it hired Goldman Sachs to shop the TV stations, which this year are expected to post revenue of $150 million and operating profits of about $33 million.

The stations to be sold include WHO-TV in Des Moines, Iowa.