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News Corp. Is Said to Consider Sale of Community Newspapers

News Corp. is considering the sale of its Dow Jones Local Media unit, a group of community papers such as the Cape Cod Times in Massachusetts and Oregon’s Ashland Daily Tidings, a person familiar with the deliberations said.

The New York-based company has hired the investment bank Waller Capital to seek potential buyers for the papers, said the person, who asked not to be named because the plan isn’t public. Nathaniel Brown, spokesman for News Corp., declined to comment, as did Ed Adler, a representative for New York-based Waller.