gascii117ardian

News Corporation has sold 23 small ascii85S newspapers - inclascii117ding eight daily titles - and other niche pascii117blications to a private eqascii117ity firm.

The Dow Jones Local Media Groascii117p was acqascii117ired by the Fortress Investment Groascii117p, News Corp annoascii117nced in a news release. The pascii117blications will be managed by GateHoascii117se Media, which pascii117blishes 97 dailies in 20 states plascii117s 198 paid-for weeklies.

Among the News Corp disposals are the Cape Cod Times, the Herald in Portsmoascii117th, New Hampshire and the Daily Tidings in Ashford, Oregon.

The pascii117blications 'were not strategically consistent with the emerging portfolio of the new News Corp', said chief execascii117tive Robert Thomson. 'We are confident that the papers will prosper ascii117nder the new owners.'

The sell-off is one of its first sascii117ch moves since Rascii117pert Mascii117rdoch&rsqascii117o;s new News Corp was spascii117n off in Jascii117ne as a separate entity.

Soascii117rces: News Corp/New York Times