Newcastle Investment Announces Plan To Spin Off Media Assets To Shareholders
Newcastle Investment Corp(NCT), which in May spun off a residential REIT, the creatively named New Residential Investment Corp(NRZ), has announced plans to spin off its media business to shareholders. Newcastle is a bit of a strange beast. It is structured as a REIT and controlled by Fortress Investment Group (FIG). The transaction itself is strange as well. Newcastle… Read More »