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Pocono Record parent company sold

By , - Last modified: September 4, 2013 at 9:51 AM

News Corp. has announced that it sold the Dow Jones Local Media Group, which operates the Pocono Record daily newspaper in Monroe County among its 33 publications.

The group was sold to an affiliate of Fortress Investment Group LLC.

Among the publications are eight daily and 15 weekly newspapers as well as online resources.

"We are confident that the papers will prosper under the new owners, but they were not strategically consistent with the emerging portfolio of the new News," said Robert Thomson, chief executive of News Corp.

The Dow Jones Local Media Group operations will be managed by GateHouse Media, which has a portfolio of more than 400 community publications and about 350 related websites.

Financial terms were not disclosed.

Pocono Record President and Publisher Joe Vanderhoof could not be reached for comment. The newspaper, which was founded in 1894, is based in Stroudsburg.

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Stacy Wescoe

Stacy Wescoe

Writer and online editor Stacy Wescoe has her finger on the pulse of the business community in the Greater Lehigh Valley and keeps you up-to-date with technology and trends, plus what coworkers and competitors are talking about around the water cooler — and on social media. She can be reached at stacyw@lvb.com or 610-807-9619, ext. 4104. Follow her on Twitter at @morestacy and on Facebook. Circle Stacy Wescoe on .

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