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July 31, 2014
07:18 EDTNEWM, FIGFortress 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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July 30, 2015
07:30 EDTNEWMNew Media reports Q2 revenue $299.5M, consensus $284.62M
Reports Q2 net income of $11.2M. Total Print Advertising decreased 7.1% on a same store basis driven by Preprints and Local Display which decreased 11.2% and 7.9%, respectively. Preprints fell under pressure in the second quarter driven by several major retailers decreasing their volume, and multiple retail store closures in our markets. Classified Print revenue decreased 2.0% on a same store basis; however, obituaries revenue, a subcategory of Classified Print, continues to be a strong category.
07:28 EDTFIGFortress reports Q2 pre-tax distributable earnings 30c, consensus 21c
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July 23, 2015
07:38 EDTNEWMCiti, after stress testing model, calls New Media selloff 'odd'
After stress testing its model, Citi calls the 20% pullback in shares of New Media Investment Group since June "odd." Even with the selloff, management will create more value pursing M&A versus buying back shares, the firm tells investors. It keeps a Buy rating on New Media with a $37 price target.

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