Deals
News Corp. Sells Newspaper Group to Fortress for $87 Million
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News Corp., the publisher of the Wall Street Journal, sold local newspapers such as Oregon’s Ashland Daily Tidings and Massachusetts’ Cape Cod Times to an affiliate of Fortress Investment Group LLC for $87 million.
The Dow Jones Local Media Group operates 33 publications, including eight daily newspapers and 15 weeklies, News Corp. said yesterday. Newcastle Investment Corp., a real estate investment trust managed by Fortress, acquired the publications, it said in a separate statement today.