NEW YORK, N.Y. – News Corp., the owner of The Wall Street Journal, is trimming its newspaper portfolio by selling 33 smaller publications, including eight dailies.
The deal announced Tuesday affects newspapers that News Corp. ran as part of its Dow Jones Local Media Group. They are being sold for an undisclosed amount to Fortress Investment Group LLC, which specializes in buying troubled businesses.
The daily newspapers being turned over to Fortress are the Times Herald-Record in Middletown, N.Y., the Cape Cod Times in Hyannis, Mass., The Record in Stockton, Calif., The Standard-Times in New Bedford, Mass., The Pocono Record in Stroudsburg, Pa., The Herald in Portsmouth, N.H., The Mail Tribune in Medford, Ore. and The Daily Tidings in Ashland, Ore.
Besides the Wall Street Journal, News Corp. still owns the New York Post.