Fortress Investment Group, the investment bank that owns the GateHouse Media chain of community newspapers, has been sold to a Japanese bank, SoftBank Group Corp., for $3.3 billion, the Worcester Business Journal reports.
GateHouse, based in suburban Rochester, New York, owns well over a hundred local weeklies in Eastern Massachusetts as well as dailies such as the Telegram & Gazette of Worcester, The MetroWest Daily News of Framingham. The Patriot Ledger of Quincy, The Standard-Times of New Bedford and the Cape Cod Times.
Strange days indeed.
Update: OMG, there is a Trump angle. (Thanks to Saul Tannenbaum, who posted a link to this in the Facebook comments.)