News Corp. Sells Local Newspapers

  • SHARES

By Chris O'Shea Comment

News Corp. has sold its Dow Jones Local Media Group — which operates over 30 publications, including eight daily and 15 weekly newspapers — to Fortress Investment Group. Financial details of the deal weren’t disclosed.

Some of the papers involved in the sale include the Times Herald-Record (Middletown, New York); the Cape Cod Times and The Standard-Times (Hyannis and New Bedford, Massachusetts); The Record (Stockton, California) and The Pocono Record (Stroudsburg, Pennsylvania).

“These newspapers share a strong tradition of service in their communities and a highly talented staff,” said Robert Thomson, News Corp.’s CEO, in a statement. “We are confident that the papers will prosper under the new owners, but they were not strategically consistent with the emerging portfolio of the new News [Corp.].”