After a little more than a year trying to run TV stations, News Corp. topper Rupert Murdoch’s daughter Elisabeth is getting out of that business and may land back in the family business.
Elisabeth Murdoch, who bought NBC affiliates KSBY Santa Barbara and KSBW Monterey for an estimated $37 million, is selling the properties for about $45 million. Smith Broadcasting is buying the Salinas-Monterey property, while SJL Communications is acquiring the Santa Barbara station.
Although there was rampant speculation that Murdoch and her husband Elkin Pianim would convert the stations to Fox, they never did. Murdoch and her husband said recent consolidation in the TV business gave the couple a choice: Either get big or get out. They chose the latter and made a little profit as well.