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Comcast Buys Rest Of News Channel From Hearst

Stock quotes in this article: CMCSA  

PHILADELPHIA (AP) — Comcast Corp. said Thursday that it purchased the portion of New England Cable News from Hearst Corp. it didn't already own.

The nation's largest cable operator acquired the remaining 50 percent of the regional news channel for an undisclosed amount. New York-based Hearst created the news outlet as a joint venture in 1992 with New England cable operators that Comcast eventually acquired.

Like many newspaper owners, and to some extent magazine publishers, Hearst is facing an advertising slump that has been particularly brutal on local ads. ...

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