News Corp sells Community Newspaper Group as it moves to digital

The sale 'helps us reshape the News Corp portfolio as we achieve greater globalisation and digitisation of our businesses with an eye towards long-term growth,' said Robert Thomson, chief executive of News Corp.

hidden June 24, 2014 08:28:55 IST
News Corp sells Community Newspaper Group as it moves to digital

Rupert Murdoch's News Corp. has said it is selling a group of 11 community newspapers as part of a move to globalise and digitise its publishing operations.

News Corp., which was formed when Murdoch broke up his corporate empire into two separate units, did not disclose the terms of the sale of Community Newspaper Group (CNG) to Les and Jennifer Goodstein, owners of a group of New York city neighborhood publications.

News Corp sells Community Newspaper Group as it moves to digital

AP

The sale "helps us reshape the News Corp portfolio as we achieve greater globalisation and digitisation of our businesses with an eye towards long-term growth," said Robert Thomson, chief executive of News Corp.

CNG is a network of 11 community newspapers and web sites, including Caribbean Life, The Brooklyn Paper, The BronxTimes Reporter, Bay News and Bay Ridge Courier, Bayside Times and TimesLedger.

The publications will go to the Goodsteins, who operate The Villager, Downtown Express, Gay City News, East Villager News and Chelsea Now.

Les Goodstein is a former News Corp executive who ran CNG between 2006 and 2013.

The move follows News Corp's sale last year of the Dow Jones Local Media Group, which operated 33 publications.

Last year's breakup of Murdoch's empire led to the creation of 21st Century Fox, which operates the Fox Hollywood studios and television assets, and News Corp., which owns newspapers in Australia and Britain as well as The Wall Street Journal and New York Post in the United States.

AFP

Updated Date:

also read

Nine cities in Australia, New Zealand to host 2023 FIFA Women's World Cup
Sports

Nine cities in Australia, New Zealand to host 2023 FIFA Women's World Cup

The opening match will take place at Eden Park in Auckland, with Sydney's Stadium Australia hosting the final. The two semi-final matches will be split between Australia and New Zealand.

Derek Chauvin trial puts Court TV's revival in the public eye
World

Derek Chauvin trial puts Court TV's revival in the public eye

Originally started by journalist Steven Brill in 1991, Court TV became known for coverage of sensational trials involving OJ Simpson and the Menendez brothers.

World Autism Awareness Day 2021: UN chief lays emphasis on need for 'inclusion, equity' at workplace
World

World Autism Awareness Day 2021: UN chief lays emphasis on need for 'inclusion, equity' at workplace

The Centre for Disease Control says that autism affects an estimated one in 54 children in the United States