Texas Rangers sold for $385 million

New owners are Ryan/Greenberg, Fox TV rights carry over

The Texas Rangers were sold early Thursday morning for $385 million, the Major League Baseball team said on its Website.

The new owners are team president and Hall of Fame pitcher Nolan Ryan and Chuck Greenberg, a lawyer who already owns two minor-league teams.

They edged out a group including Mark Cuban and Houston investor Jim Crane.

News Corp. chairman and CEO Rupert Murdoch had signaled Wednesday afternoon that his media conglomerate never even took a look at buying the team despite reports to the contrary. He told analysts in his quarterly earnings conference call that News Corp. is not in the business of owning sports teams, but sports broadcast rights.

News Corp.'s Fox has Rangers local TV rights through 2014 as part of an existing agreement that will carry over to the new owners.
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