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Newcastle Investment Corp declares record date & distribution date for spin-off of New Media Investment Group Inc

Monday, 27 Jan 2014 08:42pm EST 

Newcastle Investment Corp:Says it has formally declared the distribution of its equity interest in New Media Investment Group Inc. (New Media).Says Newcastle`s equity interest represents 25,373,120 shares or about 85pct of the total number of outstanding shares of New Media common stock.Says following the distribution, New Media will be an independent, publicly traded company (NYSE: NEWM) primarily focused on investing in local media assets and on growing its existing online advertising and digital marketing services business.Says the distribution will be made on or about Feb. 13, 2014 to Newcastle common stockholders of record as of 5:00 p.m., Eastern Time, on Feb. 6, 2014. 

Company Quote

0.12 +2.36%
28 May 2015