‘Dow Jones Local Media Group’ was acquired by an affiliate of Fortress Investment Group
News Corp has sold a bundle of 33 mostly print and local publications — including 8 daily and 15 weekly newspapers — to an affiliate of Fortress Investment Group, the media giant announced Tuesday.
Known as the Dow Jones Local Media Group, the publications include the Cape Cod Times, the Times Herald-Record of Middletown, N.Y., and the Record of Stockton, Calif. Other print and online community media includes web sites, magazines and niche publications.
Financial terms were not disclosed.
“These newspapers share a strong tradition of service in their communities and a highly talented staff,” said News Corp. chief executive Robert Thomson. “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.”
The papers’ operations will now be managed by GateHouse Media, which ran more than 400 community publications and some 350 related websites prior to the acquisition.