Dow Jones wants to sell community papers

Dow Jones & Co. said Tuesday it is exploring strategic alternatives for its Ottaway group of community newspapers.

News Corp., which is expected to close on its acquisition of Dow Jones next month, is primarily interested in acquiring The Wall Street Journal and the company’s other business media properties.

In addition, members of the Ottaway family, who hold more than 5 percent of Dow Jones stock, expressed their opposition in selling the company to News Corp.

Ottaway operates eight daily and 15 weekly community media franchises in seven U.S. states. The group’s newspapers include: the Times Herald-Record, in Middletown, N.Y.; the Cape Cod Times in Hyannis, Mass.; the Inquirer and Mirror in Nantucket, Mass., the Standard-Times in New Bedford, Mass.; the Pocono Record in Stroudsburg, Pa.; The Record in Stockton, Calif.; The Portsmouth Herald in Portsmouth, N.H.; the Medford Mail Tribune in Medford, Ore.; and the Ashland Daily Tidings in Ashland, Ore.

The company stated, “The options under consideration include the possible sale of some or all of those papers and associated media properties. There can be no assurance, however, that any transaction will take place or that all of the newspapers would be involved.”