New Media flies in when-issued trading

|By:, SA News Editor

In addition to a bit of excitement around New Residential this afternoon, another Newcastle Investment (NCT +1.2%) spinoff, New Media (NEWM) began when-issued trading last week at $11 per share and is up to $14.05. The actual spinoff date is February 13.

To review: Newcastle owners get 0.07219 shares of New Media for each share of Newcastle they own.

New Media S-1