Fortress Buys Dow Jones Local Media Group

News Corp. said Tuesday it has sold the Dow Jones Local Media Group to Fortress Investment Group. Financial terms weren't announced. Dow Jones Local Media Group operated 33 publications, incuding 8 daily and 15 weekly newspapers. GateHouse Media, a Fortress portfolio company, will manage Dow Jones Local Media Group operations. Waller Capital Partners advised Dow Jones on the sale.

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