Local Media Group

Local Media Group, Inc.
Subsidiary
Industry News media
Founded November 1936
Headquarters Middletown, New York
United States
Products Daily and weekly newspapers
Number of employees
 1,500
Parent Newcastle Investment Corp.
Website localmediagroupinc.com

Local Media Group, Inc., formerly Dow Jones Local Media Group and Ottaway Newspapers Inc., is a subsidiary of Newcastle Investment Corp. and owns newspapers, Web sites and niche publications in California, Maine, Massachusetts, New Hampshire, New York, Oregon and Pennsylvania. It is headquartered in Middletown, New York, and its flagship is the Times Herald-Record. GateHouse Media, an affiliates of Fortress Investment Group along with Newcastle, is the managing partner of these outlets.

The Ottaway organization was founded in by James H. Ottaway Sr., owner of the Endicott Daily Bulletin of Endicott, NY, in 1936. It had grown to nine newspapers in the northeastern United States by 1970, when it was acquired by Dow Jones & Company, publisher of The Wall Street Journal, and later a subsidiary of Rupert Murdoch's News Corporation. Following its split into 21st Century Fox and News Corp, the company sold the Dow Jones Local Media Group to Newcastle Investment Corp., an affiliate of Fortress Investment Group.

History

Ottaway Newspapers

James H. Ottaway, Sr., founded the company in November 1936, when he purchased the Bulletin, a semi-weekly paper in Endicott, New York, that he converted to a daily within a year. Ottaway added the Oneonta Star in 1944, followed two years later by the Pocono Record.[1]

The company has been a seller more often than a buyer in the 2000s (decade), however, and several observers—including the New York Post, The Boston Globe and Ottaway's own Cape Cod Times—speculated that News Corporation intended to sell all or part of the company in the near future.[2]

Dow Jones Local Media Group

Under Dow Jones' ownership, Ottaway sold several newspapers in recent years, however, most recently in December 2006, when the company dealt nearly half its daily newspapers to Community Newspaper Holdings Inc. (CNHI) for $287.9 million (including real estate).[3]

Until December 2006, the following dailies and weeklies were also part of the Ottaway chain. They are all now part of CNHI.[3]

The following four daily newspapers were sold by Ottaway to CNHI for $182 million in 2002:[4]

Also, Ottaway sold the three daily newspapers of Essex County Newspapers Inc. to The Eagle-Tribune of North Andover, Massachusetts, in 2002, for $70 million.[5] The Eagle-Tribune, along with the Essex papers listed below, was later purchased by CNHI.

Sale to Newcastle

On September 4, 2013, News Corp announced that it would sell the Dow Jones Local Media Group to Newcastle Investment Corp.—an affiliate of Fortress Investment Group, for $87 million. The newspapers will be operated by GateHouse Media, a newspaper group owned by Fortress. News Corp. CEO and former Wall Street Journal editor Robert James Thomson indicated that the newspapers were "not strategically consistent with the emerging portfolio" of the company.[6] GateHouse in turn filed prepackaged Chapter 11 bankruptcy on September 27, 2013, to restructure its debt obligations in order to accommodate the acquisition.[7]

Holdings

Holdings by frequency of publication

Dow Jones Local Media Group publishes eight daily and 15 weekly newspapers in seven U.S. states. Its circulation was given in 2005 as 282,000 daily, 316,000 Sunday and 119,000 daily unique visitors on newspaper Internet sites.[3]

Daily newspapers are:

Weekly and twice-weekly newspapers include the following:

Holdings by location

California
Massachusetts
New Hampshire
New York
Oregon
Pennsylvania

Footnotes

  1. ↑ "DowJones.com Community Media". Archived from the original on 24 January 2007. Retrieved 8 January 2007.
  2. ↑ "Ottaway Papers Might Be Sold, Including 16 in N.E.". NEPA Bulletin (Boston, Mass.), December 2007, page 3.
  3. 1 2 3 "Dow Jones Completes Sale of Six Local Newspapers." Dow Jones & Company press release, December 5, 2006.
  4. ↑ "Dow Jones To Sell Four Ottaway Newspapers", accessed January 8, 2007.
  5. ↑ "Bay State Paper Gets to Grow in Its Own Backyard". NewsInc, April 22, 2002. Accessed January 8, 2006.
  6. ↑ "News Corp. sells 33 papers to New York investors". New York Business Journal. Retrieved 4 September 2013.
  7. ↑ "GateHouse Files for Bankruptcy as Part of Fortress Plan". Bloomberg.
  8. 1 2 "Locations". Local Media Group. Retrieved 19 June 2014.
  9. 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 Dow Jones Local Media Group. "Locations". Retrieved 11 April 2012.

External links

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