September 3, News Corp. announced the sale of its Dow Jones Local Media Group, which includes the Cape Cod Times and the Nantucket Inquirer and Mirror, to an unnamed affiliate of Fortress Investment Group LLC, a New York-based asset management company. The Cape Cod Times reported the transaction September 4.
Fortress is the majority shareholder of GateHouse Media Inc., which owns more than 300 daily and weekly papers across the country, including The Patriot Ledger of Quincy and several weeklies on Cape Cod.
Dow Jones spokeswoman Colleen Schwartz declined to comment about the sale and declined to name the sale price, according to the Cape Cod Times.
“I think this is a good match for what we do,” Cape Cod Times editor Paul Pronovost said about the relationship with GateHouse. “We speak the same language — community journalism. We look forward to moving ahead and maintaining the same high standard of journalism our readers expect from us.”
The Cape Cod Times was first published in 1936, as the Cape Cod Standard-Times. It first appeared as an independent edition of the New Bedford Standard-Times and was published by E. Anthony and Sons of New Bedford.