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Stock Market & Financial Investment News

News Breaks
July 31, 2014
07:18 EDTFIG, NEWMFortress reports Q2 distributable earnings 39c, consensus 31c
Reports Q2 revenue $427.3M, consensus $221.59M. The increase in GAAP revenues compared to prior year was primarily attributable to $158M of revenues from the Media Business as a result of the consolidation of New Media beginning in February, as well as a $30M increase in incentive income from affiliates primarily attributable to realization activity in our Private Equity funds and higher crystallized incentive income from our Permanent Capital Vehicles. Fortress also consolidates New Media Investment Group (NEWM) financial position and results of operations. Reports Management Fee Paying Assets Under Management of $63.8B as of June 30, an increase of 2% from the previous quarter and an increase of 17% from June 30, 2013. Total uncalled capital, or “dry powder,” of $7.4B as of June 30, including approximately $5.7B available for general investment purposes.
News For FIG;NEWM From The Last 14 Days
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September 29, 2014
15:46 EDTNEWMShannon River reports 5.5% passive stake in New Media
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September 18, 2014
09:09 EDTNEWMNew Media 6.5M share Secondary priced at $16.25
Citigroup and Credit Suisse acted as joint book running managers for the offering.
September 17, 2014
18:29 EDTNEWMOn The Fly: After Hours Movers
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17:19 EDTNEWMNew Media files to sell 6.5M shares of common stock
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09:04 EDTFIGFortress provides $50M in capital financing for Spirit Music Group
Fortress Credit has granted Spirit Music Group $50M in new capital commitments to pursue its expansion plans.

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