Dow Jones Local Media Group Acquired by Newcastle Investment for $87 Million
Newcastle Investment Corp., a real estate investment trust, acquired Dow Jones’ Local Media Group from News Corp. for $87 million last week. While that may seem like a strange buyer for the Local Media Group, which operates 33 local publications, including 8 daily and 15 weekly newspapers, in 7 states, Newcastle will actually hand off operational management to their publishing arm GateHouse Media. Both Newcastle and GateHouse are owned by parent company Fortress Investment Group. GateHouse…
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