Goldman Sachs Fund to Sell $30 Million Media Investment at Loss

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By: Christine Harper | businessweek.com

Goldman Sachs Group Inc. (GS) said one of its private equity funds agreed to exit a 12-year-old stake in Village Voice Media at a loss because the bank is uncomfortable with the company’s direction.

GS Capital Partners III, a $2.78 billion fund raised in 1998, invested $30 million in the alternative weekly newspaper publisher in 2000, according to Andrea Raphael, a spokeswoman for New York-based Goldman Sachs.































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