New Media gets busy


Its first deal since being spun off from Newcastle Investment (NCT -2.7%) just days ago, New Media (NEWM -2%) acquires the Victorville (CA) Daily Press and related assets/publications from Freedom Communications for $8M. The publications have a circulation of about 50K, revenue of $12.5M, and operating margins before depreciation and amortization of just over 20%.

The purchase is expected to be immediately accretive.

It's a start. New Media manager Fortress Investment has identified about $1B in acquisition candidates.

Comments (1)
  • Michael Bryant
    , contributor
    Comments (6731) | Send Message
     
    I am excited to see how (NEWM) does. One side of me says it is in a dying industry: newspapers. But why I Buffett buying newspapers?
    3 Mar 2014, 12:07 PM Reply Like
DJIA (DIA) S&P 500 (SPY)
ETF Hub
ETF Screener: Search and filter by asset class, strategy, theme, performance, yield, and much more
ETF Performance: View ETF performance across key asset classes and investing themes
ETF Investing Guide: Learn how to build and manage a well-diversified, low cost ETF portfolio
ETF Selector: An explanation of how to select and use ETFs