Fortress Investment Group Shareholders Vote in Favor of the New Media Merger
Fortress Investment Group is one of the publicly owned groups dealing with investment managers. Under the management, this New York investment group has assets close to $50 billion worth. This investment group has over 1,600 clients who are institutional investors.
Most of its offices are located in Los Angeles, Hong Kong, New York City, Singapore, Philadelphia, and Italy. For the group, 2019 was a year they will never forget. Continued investment activity and company growth were experienced during this year by the company itself, its stakeholders, and its investors. During the same year, financier Vannin received a global litigation controlled by Fortress.
The Fortress Investment Group partnered with Maefield Development and the L&L Holding Company and decided to commit to doing a project worth $2.5 billion for the TSX Broadway in Times Square, New York, which is one area that has high traffic in the Western hemisphere.
This project is designed to include a brand-new luxury hotel with a total of 669 rooms, a permanent performance stage on the outdoor, ten retail stores and a palace theatre that is newly refurbished and renovated. By the end of 2022, this project is expected to be completed and be opened to start operating.
A debate that was going on with the shareholders ended with all votes in favor of the new media merger that is under the management of Fortress Investment Group and Gannett Co., Inc. The Gannett Co., Inc. is a news organization that was started by Frank E. Gannet almost at the end of the last century.
This new merger between the two organizations came up with a print that is leading in the U.S. with new organizations and digital ones with national scale and local roots. In 2017, Fortress Investment Group was announced as the largest provider of apartments for rent, with over 100,000 housing units that were more affordable. Refer to this page for additional information.