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Stock Market & Financial Investment News

News Breaks
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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November 20, 2014
17:23 EDTNEWMNew Media to acquire Halifax Media Group for $280M
New Media has reached an agreement to purchase substantially all of the assets of Halifax Media Group for $280.0M in cash. New Media intends to fund the acquisition with a combination of cash on the balance sheet and incremental debt under its existing term loan. Halifax Media is a newspaper publisher serving communities primarily in the southeastern portion of the U.S. Halifax has a total daily circulation of approximately 635K and 752K on Sunday. The acquisition is accretive to New Media. The deal is expected to close in 1Q15
November 14, 2014
07:32 EDTFIGHayman Capital gives quarterly update on stakes
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