New Media Investment Group Inc.
(NYSE:NEWM) is focused primarily on investing in a high quality, diversified portfolio of local media assets, and on growing existing advertising and digital marketing businesses.
We are one of the largest publishers of locally based print and online media in the United States as measured by number of daily publications. We operate in over 415 markets across 31 states. Our portfolio of products, which includes over 490 community publications, over 415 related websites, and six yellow page directories, serves more than 175,000 business advertising accounts and reaches approximately 19 million people on a weekly basis.
Our print and online products focus on the local community from both a content and advertising standpoint. As a result of our focus on small and midsize markets, we are usually the primary, and sometimes the sole, provider of comprehensive and in-depth local market news and information in the communities we serve. Our content is primarily devoted to topics that we believe are highly relevant and on interest to our audiences such as local news and politics, community and regional events, youth sports, opinion and editorial pages, and local schools.
More than 84% of our daily newspapers have been published for more than 100 years and 100% have been published for more than 50 years. We believe that the longevity of our publications demonstrates the value and relevance of the local information that we provide and has created a strong foundation of reader loyalty as well as a highly recognized media brand name in each community we serve.Read More
New Media will create stockholder value through growth in our revenue and cash flow by expanding our digital marketing services business, growing our online advertising business, and pursuing strategic acquisitions of high quality local media assets. Our strategy will be to acquire and operate traditional local media businesses and transform them from print-centric operations to dynamic multi-media operations, through our existing online advertising and digital marketing businesses. We will also leverage our existing platform to operate these businesses more efficiently. We believe all of these initiatives will lead to revenue and cash flow growth for New Media.
New Media is managed by FIG LLC, an affiliate of Fortress Investment Group LLC. We will draw upon the long-standing expertise and resources of Fortress, a global investment management firm with $67.5 billion in fee-paying assets under management as of
December 31, 2014.