Kramer buys The Record; Torricelli and Corzine involved

A group of investors led by Democratic fundraiser Orin Kramer has purchased the North Jersey Media Group, which publishes The Record, the Herald News, and 46 weekly newspapers, ending 80-years of ownership by the Borg family.  The newspaper is expected to announce the completion of the sale to their readers tomorrow.

Former U.S. Sen. Robert Torricelli, who had been a frequent critic of the newspaper’s editorial policy, will serve as acting publisher while Kramer searches for a permanent replacement, according to an e-mail obtained by Torricelli will assume his new role on Monday.

According the e-mail, former Gov. Jon Corzine will have a 6.5% interest in the newspaper chain.  Other investors reportedly include Brian Mathis, Jim Torrey and Jamie Rubin.  The Borg family will retain 10% ownership of The Record.

Kramer, the chairman of the State Investment Council and a top fundraiser for the Obama campaign, declined comment.

“I’ll have something to say tomorrow,” Kramer said.  “Until then, nothing.”

Tomorrow is April 1.

Editor’s Note: The Record has asked that we inform our readers that the report of their sale is false, and that this story was part of our annual April Fool’s Day story.  We’re happy to oblige.

Kramer buys The Record; Torricelli and Corzine involved