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Fox News Exec Buys Hometown Paper

Struggling local newspapers might find salvation from their readers--if they have the right readers. The 142-year-old Putnam County News and Recorder numbers Roger Ailes, the chairman of Fox News and a local resident, among its devoted readers. Ailes likes the paper so much he bought it.

Ailes and his wife Elizabeth purchased the 3,000-circulation paper in Putnam County, about 60 miles north of New York City. The paper will "probably stay the same." says Elizabeth Ailes, who will be the publisher. In the 1990s, she worked at NBC, CNBC and the cable channel America's Talking.

"It's a really quaint newspaper that reflects the community. We really like it, that's why Roger wanted to own it," says Elizabeth. The paper's sale price was not disclosed; Roger Ailes earned nearly $11 million in the fiscal year that ended last year.

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