News Corp., the publishing group created with the split of Rupert Murdoch’s media empire, said on 3 September that it was selling 33 local publications to a group led by Fortress Investment Group.
The sale includes eight daily and 15 weekly newspapers which are part of the Dow Jones Local Media Group.
Among the papers sold are the Times Herald-Record of Middletown, New York; Cape Cod Times in Hyannis, Massachusetts; The Record in Stockton, California; and The Mail Tribune in Medford, Oregon.
News Corp. includes well-known newspapers like the Wall Street Journal and New York Post in the US, The Sunday Times and The Sun in Britain, and The Australian.
It also includes Dow Jones news agency, Fox Sports Australia and the HarperCollins publishing house.
Murdoch, who remains in charge of both companies, has said the breakup would create more value for shareholders and allow each unit to be better managed.
Terms of the sale were not announced.
Source: http://cablequest.org/news/international-news/item/3152-news-corp-sells-33-local-publications.htmlSource: http://cablequest.org/news/international-news/item/3152-news-corp-sells-33-local-publications.html
Source: http://cablequest.org/news/international-news/item/3152-news-corp-sells-33-local-publications.htmlSource: http://cablequest.org/news/international-news/item/3152-news-corp-sells-33-local-publications.html
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