News Corp. Expands NYC Empire

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The global media conglomerate that owns The New York Post and MySpace purchased two weekly Bronx newspapers, part of a strategy to deepen its advertising reach into the city?s neighborhoods.

News Corp. [NWS] purchased The Bronx Times and The Bronx Times Reporter on Monday, though it did not disclose the purchase price paid to the owners, David Kiesman and John Collazi.

The company has steadily bought up chains of neighborhood newspapers in Queens and Brooklyn that, along with the Bronx papers, would have a combined circulation of nearly 300,000.

Such neighborhood newspapers are highly profitable and attractive to advertisers.

“It?s great for selling combined ad buys with The New York Post,” said Les Goldstein, a senior vice president of the company.

News Corp. has recently been the topic of much discussion as it seeks to buy Dow Jones, the publisher of The Wall Street Journal.

In the fall of 2006, News Corp. bought The TimesLedger newspaper chain in Queens and The Courier Life group in Brooklyn.

The Bronx Times was started as a free sixteen-page tabloid in 1981, according to the newspaper?s Web site. It claims to have a total paid circulation of 42,625 copies in six Bronx neighborhoods.

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