An attempted sale in 2008 did not draw any buyers, Bloomberg News reports.
The parent company of the Pocono Record is being offered for sale by News Corp., Bloomberg News reported Tuesday.
The Dow Jones Local Media group will be marketed by investment bank Waller Capital, Bloomberg said, citing an unnamed source.
News Corp. tried to sell the community newspapers group in 2008, but didn't find a buyer, Bloomberg said.
The corporation is preparing to split its publishing operation from its entertainment properties and posted a loss of nearly $2 billion in the fiscal year that ended June 30, Bloomberg reported. The loss, based on sales of $9.14 billion, was fueled by $2.6 billion in writedowns, mostly from lowered values of its newspapers, Bloomberg reported.