UNDATED (AP) - The company that makes one of the weapons believed to have been used to kill elementary school children in Connecticut is being put up for sale by its owner.
The private-equity group Cerberus Capital Management says it will sell its controlling stake in Freedom Group International, the maker of Bushmaster rifles.
In a statement, Cerberus calls Friday's school shooting rampage "a watershed event that has raised the national debate on gun control to an unprecedented level."
Freedom Group says it's the largest firearms manufacturer in the U.S. It sold 1.1 million rifles and shotguns last year, along with 2 billion rounds of ammunition. Its products are sold to law enforcement and military customers, as well as retailers who sell them to hunters and gun enthusiasts.
Shares in publicly-traded gun makers have been dropping for a third-straight day, as the political winds appear to be shifting. Some Republicans now say they're willing to discuss the issue of gun control, along with mental health issues and violent video games,
The retail chain Dick's Sporting Goods says it is suspending sales of military-style rifles during "this time of national mourning." The company also removed all guns from sale and display at its store closest to Newtown, where a gunman killed 20 children and six adults Friday at Sandy Hook Elementary School before killing himself.
(Copyright 2012 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.)
Company that makes Bushmaster rifle being put up for sale by owner
Related Stories
- More Texas News
- National News
- International News
- Hundreds remember dead Texas cheerleader
- Texas police nab suspect in postal worker's death
- Texas bill would drastically revamp water agency
- Dallas suburb solar panel fight exposes problems
- Houston man shot in head trying to help woman
- Man shot dead at north Houston restaurant
- Memorial for dead Texas cheerleader set for Sunday
- Here is the latest Texas sports news from The Associated Press
- Winning numbers drawn in Powerball jackpot
- Last-minute fortune seekers buy Powerball tickets
- US gas prices up 11 cents over past 2 weeks
- 10 Things to Know for Monday
- Taylor Swift wins 8 trophies at Billboard Awards
- US adviser on board of firm that sold anthrax drug
- Eds: With AP Photos.
- How the Conn. train crash will affect commuters
- 2 FBI agents killed in training accident in Va.
- Commuters warned of traffic mess for up to 1 week
- Tornadoes hit Kan., Okla.; no injuries reported
- Amtrak reports minor train derailment in Chicago
- SKorea analyzing if 4 projectiles North Korea launched were missiles or artillery
- Syrian regime troops score gains, push into strategic rebel-held town near Lebanon
- Top Libyan official: Benghazi explosion accident
- Nigeria military: 17 killed during offensive
- Algerian editor accuses government of censorship
- Zimbabwe PM: We will end police, military abuse
- Pope: church should open up but follow teaching
- Russian TV: American accused of spying flies out
- Cairo airport baggage handlers end strike
- Mice return from a month in space
Automotive
Find valuable information about buying your next car, including price quotes and your latest automotive news.
Wedding Central
The greatest Southeast Texas story ever told. Share your wedding and engagement news!
Lost and Found Pets
These are pets that have been lost or found in the KFDM News Channel 6 viewing area.
No Text Zone
Texting While Driving Kills Thousands of People Each Year. Many More are Seriously Injured. You Can Help Make Our Roads a NO TEXT ZONE
Texas Lottery
Texas Lottery
Community Calendar
Check out our Community Calendar!
Baby Talk
Baby Talk with Nicole Murray.
KFDM Channel 6 Top Stories
Business News
Gauge of US economy's future health up in April
WASHINGTON (AP) -- A measure of the U.S. economy's future health rose in solidly in April, buoyed by a sharp rise in applications to build new homes and apartments.
Consumer News
BC-US--Dow Record-Three Personal Stories, 1st Ld-Writethru,1173
Dow Record: Three tales of ups, downs and changes
AP Photo FX102, FX103
Eds: With BC-US--Dow Record. Adds photos.
By SCOTT MAYEROWITZ
AP Business Writer
NEW YORK (AP) -- When the Dow first crossed 14,000, investors were overjoyed. ...
Entertainment News
Get This
ON THIN ICE?
ANCHORAGE, Alaska (AP) -- He was already on thin ice with the law when he failed to meet the conditions of his probation.
Science/Tech News
IN THE NEWS: LABOR GROUP SAYS CONDITIONS AT APPLE PLANTS IMPROVING
WASHINGTON (AP) -- A labor group Apple joined to assess working conditions at three manufacturing plants in China, where its products are made, says conditions are getting better.

