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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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May 26, 2015
10:12 EDTFIGFortress management to meet with JMP Securities
Meeting to be held in Boston on May 27 hosted by JMP Securities.
May 22, 2015
19:35 EDTFIGFortress, Mount Kellett Capital to form strategic alliance, terms not disclosed
Fortress Investment Group and Mount Kellett Capital Management announced they have reached an agreement for an affiliate of Fortress to become co-manager with Mount Kellett of the Mount Kellett investment funds and related accounts. Mount Kellett affiliates will continue to serve as general partner of the Funds. Additionally, affiliates of Fortress will become special limited partners of the Funds. Financial terms of the transaction were not disclosed. The transaction is subject to receipt of Mount Kellett investor consent and certain other approvals and the execution of definitive agreements. The transaction is expected to close on or about June 30.
May 19, 2015
06:31 EDTFIGFortress Investment reports 6.4% stake in Newcastle Investment
Fortress Investment Group (FIG) reports a 6.4% stake in Newcastle Investment (NCT).

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