News Corp. Buys Two NYC Community Newspaper Groups

Posted Thursday, September 28, 2006 12:00 am

By: E&P Staff News Corporation has acquired two New York City-based newspaper groups that publish 28 weekly newspapers primarily serving Queens and Brooklyn, the New York Times has reported.

According to the Times article, the Rupert Murdoch-owned news conglomerate, which owns the New York Post among other media properties, is hoping to use the purchases of the TimesLedger and Courier-Life newspaper groups to make inroads in Queens and Brooklyn neighborhoods where the Post's main competitor, the Daily News, is strongest. The weeklies serve predominently minority populations and have a combined weekly circulation of 245,000. ABC lists the Post's average daily circulation is 673,000.

Although terms of the deal weren't released, the Times report quoted a source as saying the company paid approximately $16 million for the two groups.

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News Corp. Buys Two NYC Community Newspaper Groups

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