Tags: News | Corp | sells | Newspaper

News Corp. Sells Local Newspaper Group to Private Equity Firm

Tuesday, 03 September 2013 05:31 PM EDT

News Corp., the owner of The Wall Street Journal, is trimming its newspaper portfolio by selling 33 smaller publications, including eight dailies.

The deal announced Tuesday affects newspapers that News Corp. ran as part of its Dow Jones Local Media Group. They are being sold for an undisclosed amount to Fortress Investment Group LLC, which specializes in buying troubled businesses.

The daily newspapers being turned over to Fortress are the Times Herald-Record in Middletown, N.Y., the Cape Cod Times in Hyannis, Mass., The Record in Stockton, Calif., The Standard-Times in New Bedford, Mass., The Pocono Record in Stroudsburg, Pa., The Herald in Portsmouth, N.H., The Mail Tribune in Medford, Ore. and The Daily Tidings in Ashland, Ore.

Besides the Wall Street Journal, News Corp. still owns the New York Post.

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Companies
News Corp., the publisher of the Wall Street Journal, sold a collection of local newspapers such as Oregon's Ashland Daily Tidings to private-equity manager Fortress Investment Group LLC.
News,Corp,sells,Newspaper
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2013-31-03
Tuesday, 03 September 2013 05:31 PM
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