Categories: OLD Media Moves

Dow Jones may sell some of its community newspapers

Dow Jones, the parent company of The Wall Street Journal, Barron’s and Marketwatch.com, stated in a news release that it is considering selling some of its small, community newspapers.

The company stated, “Specifically, the Company is evaluating options for newspapers in six markets: Danbury, CT; Oneonta, NY; Plattsburg, NY; Santa Cruz, CA; Sunbury, PA; and Traverse City, MI. These options include cash sales and an exchange for other community newspapers. There can be no assurance that any transaction will take place or whether all of these newspapers would be involved.

“The purpose of the transaction would be to raise cash to repay debt and for investment in the Company’s current businesses as well as utilize approximately $155 million of capital loss tax carry-forwards which expire at December 31, 2006. Additional details will be provided when and if actual transactions are entered into.”