Liberty Group Publishing, owners of The Carthage Press, Neosho Daily News, Neosho Post, and The Big Nickel, among 300 other publications, has been sold to a New York investment firm.
Editor & Publisher reports that Fortress Investment Group LLC announced the purchase today, but released no terms. The sale came four months after Liberty pulled itself off the auction block after borrowing $335 million.
1 comment:
Liberty was about to default on millions of dollars in loans from it's failed attempt to go public three years ago. Liberty's outdated products, declining ad sales, and poor local management created the environment for Fortress to step in and takeover.
Just looking at Liberty's local products (Carthage Press, Neosho Daily and the Big Nickel) makes you wonder how they stay in business.
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