Fortress Investment Group a global alternative asset investment firm expands its portfolio with the addition of New Media Investment Group a subsidiary that specializes in advertising digital marketing and local media assets. New Media Investment Group was developed by Fortress Investment Group to take advantage of some of the opportunities in advertising and other areas of the growing multimedia platform asset categories. New Media Investment Group is one of the largest daily news newspaper providers in the country.
New Media also has more than 569 local market websites that are part of its diversified portfolio of assets within the company. The company has more than 1.9 million paid subscriptions for its publications which provide an extremely profitable long-term income stream for this advertising investment opportunity. New Media Investment Group is a subsidiary of Fortress Investment Group and provides the analysis and valuation of various types of media investment opportunities that can provide lucrative returns on investments for his more than 1750 institutional and individual clients. Fortress Investment Group currently has assets under management in excess of $30 billion.
Fortress Investment Group was founded in 2002 by Peter Briger, Wes Edens and three other principal partners that founded the organization. Fortress quickly became one of the leaders in the investment firm industry and began to expand its portfolio through alternative asset investments around the globe. Peter Briger currently Co-Chief Executive Officer with Wes Edens continues to provide high-level leadership and guidance over the company to expand and flourish within the alternative asset categories. Peter Briger, in particular, runs the Fortress Credit business that specializes in distressed, underperforming, and illiquid asset investments that provide high returns on investment for the organization. Peter was educated at Princeton University where he received his Bachelor of Arts Degree and continued his education at Wharton School of Business where he received his Master of Business Administration Degree. Peter Briger continues to provide excellent leadership and valuable stewardship over Fortress Investment Group and continues to be a leader and innovator in the alternative asset industry.
Fortress Investment Group was sold to SoftBank group a global innovator in technology that provides valuable cutting-edge resources for the expansion of telecommunications, AI research, internet services, robotics and various other revolutionaries technologically advanced innovations that are propelling the world into an information revolution. SoftBank purchased Fortress Investment Group to provide and in route to gain a strategic position within the alternative asset industry and provide needed capital and secured long-term investment opportunities to expand their portfolio and gain competitive advantages over their competition.
New Media Investment Group provides a level of advancement within the alternative asset category for Fortress Investment Group that solidifies and diversifying its portfolio into multimedia long-term investment streams of income and opportunities for lucrative returns on investment. The New Media Investment Group is a publicly traded subsidiary of Fortress Investment Group and is providing an opportunity for expansion within the advertising and multimedia asset classes by providing opportunities for continued long-term growth potential within the alternative asset industry.