September 3, 2013
SOLD: Dow Jones Local Media Group
News Corp announced this afternoon the sale of Dow Jones Local Media Group to "an affiliate of Fortress Investment Group LLC."
None of the employees affected by today's sale are represented by IAPE TNG/CWA Local 1096.
Financial Terms of the sale were not disclosed. The division of the Company — including former Ottaway papers — had been for sale since April of this year.
The following is the full text of the press release from Dow Jones & Company:
NEWS CORP ANNOUNCES SALE OF Dow Jones LOCAL MEDIA GROUP
NEW YORK — September 3, 2013 — News Corp (NASDAQ: NWS, NWSA; Temp. ASX tickers: NNC, NNCLV) announced today that it has sold the Dow Jones Local Media Group, which operates 33 publications, including 8 daily and 15 weekly newspapers, to an affiliate of Fortress Investment Group LLC.
The Dow Jones Local Media Group daily newspaper franchises include the Times Herald-Record (Middletown, N.Y.); Cape Cod Times (Hyannis, Mass.);The Record (Stockton, Calif.); The Standard-Times (New Bedford, Mass.);