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News Corp. to sell regional and local newspapers?

From Mediaweek yesterday:

News Corp in talks with potential buyers of its regional and local newspapers

News Corp has opened talks with potential buyers of its regional and local newspapers, including private equity bidders, reports The Australian’s Dana McCauley and Bridget Carter.

Sources close to the discussions cautioned that the talks were exploratory and may not lead to a sale of any titles.

They said the company was obliged to review its options after receiving interest and no decisions had been made.

News Corp has hired investment bank Citi as an adviser. Potential suitors include private equity firms Anchorage Capital and Apollo. It is unclear which titles are involved.

Staff at some newsrooms were briefed on the situation yesterday.

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