News Corp sells 33 local publications

News Corp, the publishing group created with the split of Rupert Murdoch's media empire, said Tuesday it was selling 33 local publications to a group led by Fortress Investment Group. The sale includes eight daily and 15 weekly newspapers which are part of the Dow Jones Local Media Group. "These newspapers share a strong tradition of service in their communities and a highly talented staff," said Robert Thomson, chief executive of News Corp. "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 breakup in June created two companies, one called 21st Century Fox which included the company's film and television assets, with the publishing arm known as "New News Corp." Among the papers sold are the Times Herald-Record of Middletown, New York; Cape Cod Times in Hyannis, Massachusetts; The Record in Stockton, California; and The Mail Tribune in Medford, Oregon. The newspapers will be merged into GateHouse Media, one of the largest publishers of locally based print and online media in the United States, a News Corp. statement said. Murdoch, who remains in charge of both companies, has said the breakup would create more value for shareholders and allow each unit to be better managed. Terms of the sale were not announced. News Corp. includes well-known newspapers like the Wall Street Journal and New York Post in the United States, The Sunday Times of and The Sun in Britain, and The Australian. It also includes Dow Jones news agency, Fox Sports Australia and the HarperCollins publishing house.