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NRA breaks silence with scheduled news conference; assault rifle company for sale

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The Newtown shootings have begun to spawn action by the nation's leading gun rights group, and the business community may be reacting to the nation's growing swing toward stronger gun control.

The National Rifle Association on Tuesday scheduled a Friday news conference to address the Newton, CT, school shootings. Also on Tuesday, Cerebrus Capital Management announced efforts sell Freedom Group Inc., which brokers to licensed dealers the Bushmaster .223 that shooter Adam Lanza used in the attack.

The NRA "majornews conference" in Washington on Friday, Dec. 21 will address the shooting deaths of 20 children and six adults in Newton, CT. The organization said the effort is to ensure that events like the Sandy Hook Elementary School massacre never happen again, and promised "meaningful comtributions."

The NRA broke a four-day silence after with the announcement. It earlier took down its Facebook page and Twitter Feed.

The release was not specific about what actions it would take of who would speak.

The release read:

National Rifle Association of America is made up of four million moms and dads, sons and daughters –- and we were shocked, saddened and heartbroken by the news of the horrific and senseless murders in Newtown.

Out of respect for the families, and as a matter of common decency, we have given time for mourning, prayer and a full investigation of the facts before commenting.

The NRA is prepared to offer meaningful contributions to help make sure this never happens again.

The NRA is planning to hold a major news conference in the Washington, DC area on Friday, December 21.

Business reaction

Also on Tuesday, a $20 billion private investment fund that owns Freedom Group, a company that sells the Bushmaster .223  announced it would sell the company. The company mixes business reasons with a sense of contrition.

"It is apparent that the Sandy Hook tragedy was a watershed event that has raised the national debate on gun control to an unprecedented level," Cerebrus said in the he news release.The statement said in part the prospect of losing revenue because of the backlash concerning the incident is central to the decision.

The release sent a mixed message that the company is not inclined to enter into the gun control debate but is making a business decision based on the potential loss of revuenue from gun sales surrounding the mass killings.

However, it goes on to say:

"No words or actions can lessen the enormity of this event or make a dent in the pain that was inflicted on so many," Cerebrus wrote in the news release.

"There are, however, actions that we as a firm can take. Accordingly, we have determined to immediately engage in a formal process to sell Freedom Group. "

The company has engaged a financial advisor to execute to process and will return the capital to its investors, it said.

 

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