WSJ: News Corp. eyeing sale options for local papers

Print
Font Size:
Default font size
Larger font size

Posted: Wednesday, April 3, 2013 10:14 am | Updated: 11:02 am, Mon Apr 8, 2013.

The Wall Street Journal reported that parent company News Corp. is exploring the sale of Dow Jones Local Media Group papers.

The group of papers, acquired by News Corp. from Ottaway Newspapers as part of its 2007 purchase of Dow Jones & Co., includes eight daily titles in California, Maine, Massachusetts, New Hampshire, New York, Oregon and Pennsylvania, and their affiliated websites. Among the titles that would be included: the Cape Cod Times in Hyannis, Mass., the Pocono (N.Y.) Record and Ashland (Ore.) Daily Tidings.

WSJ cites sources familiar with the matter and said News Corp. has retained Waller Capital, a New York investment bank, to shop the papers.

Potential buyers could include Warren Buffett’s Berskshire Hathaway, WSJ said.

News Corp. made the decision to spin off its publishing division last year in response to mounting pressure from shareholders following a net loss of $1.89 billion in the fiscal year ending June 30, 2012. As a result, News Corp. last year said it would focus on its more lucrative television and film businesses.

More about

Rules of Conduct

  • 1 Keep it Clean. Please avoid obscene, vulgar, lewd, racist or sexually-oriented language.
  • 2 Don't Threaten or Abuse. Threats of harming another person will not be tolerated. AND PLEASE TURN OFF CAPS LOCK.
  • 3 Be Truthful. Don't knowingly lie about anyone or anything.
  • 4 Be Nice. No racism, sexism or any sort of -ism that is degrading to another person.
  • 5 Be Proactive. Use the 'Report' link on each comment to let us know of abusive posts.
  • 6 Share with Us. We'd love to hear eyewitness accounts, the history behind an article.

Welcome to the discussion.

Final bids on Daily News due today
Updated: May 18, 2015 - 1:09 pm

Today marks the deadline for final bids on the (New York) Daily News. Currently three bidders remain in the auction for the paper, which Mort Zuckerman put up for sale in March.

ACS Alabama upgrades press controls
Updated: May 18, 2015 - 10:43 pm

Advance Central Services Alabama inked a deal with manroland web systems to upgrade electrical controls on its Geoman press at its Mobile, Ala., plant.

FT launches time-based digital ad metric
Posted: May 18, 2015

The Financial Times launched a new cost-per-hour digital advertising metric.

AJC completes drive repower project
Updated: May 18, 2015 - 12:08 pm

The Atlanta Journal-Constitution completed the upgrade of its drives recently, in partnership with Electronic Design Group.

default avatar
Welcome to the site! Login or Signup below.
|
||
Logout|My Dashboard