Back to top

Analyst Blog

This page is temporarily not available.  Please check later as it should be available shortly. If you have any questions, please email customer support at support@zacks.com or call 800-767-3771 ext.  9339.

In order to focus more on its core businesses, News Corporation (NWSA - Analyst Report) disclosed the sale of the Dow Jones Local Media Group to an affiliate of Fortress Investment Group LLC for an undisclosed amount.

The Dow Jones Local Media Group operates 33 publications, which include 8 daily and 15 weekly newspapers. The sale of the Dow Jones Local Media Group entitles Fortress Investment to the ownership of other newspaper franchises that include the Times Herald-Record, The Record, Cape Cod Times, The Herald, The Standard-Times, The Pocono Record, The Daily Tidings and The Mail Tribune.

This deal comes in the midst of a rapidly changing media landscape where publishing companies have been offloading assets that bear no direct relation with the core operations.

In fact, the publishing industry as a whole has been struggling in terms of revenues and readership due to the increasing availability of online news. This has rendered the print-advertising model increasingly irrelevant.

Recently, Amazon.com Inc’s (AMZN - Analyst Report) founder and CEO, Jeff Bezos purchased one of the legendary publications in American journalism, The Washington Post for $250 million in cash, while The New York Times Company (NYT - Analyst Report) sold the Boston Globe to Red Sox owner John Henry and IAC/InterActiveCorp (IACI - Snapshot Report) divested the Newsweek brand to IBT Media, the publisher of the International Business Times.

News Corporation on the other hand divided its operations into 2 separate publicly traded publishing and entertainment entities. The publishing company comprises publishing businesses, education unit and the integrated marketing services business, while, the entertainment company includes cable and television assets, filmed entertainment, and direct satellite broadcasting businesses.

Currently, News Corporation holds a Zacks Rank #4 (Sell).

Please login to Zacks.com or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research

Close

Are you a new Zacks Member or a visitor to Zacks.com?

Top Zacks Features

Learn more

Start for as little as $4.50 per trade.

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Zacks.com. Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
DIXIE GRP IN DXYN 15.84 +7.90%
BOFI HLDG IN BOFI 85.30 +4.97%
RAMBUS INC RMBS 12.31 +4.41%
VIPSHOP HOLD VIPS 148.73 +4.35%
NETFLIX INC NFLX 345.74 +4.32%