The New York Times Co. is in advanced talks to sell all of its small, regional publications.
The company said Monday that Halifax Media Holdings LLC., owner of the Daytona Beach News-Journal in Florida, is preparing to purchase the Times' Regional Media Group division. The unit consists of 16 regional newspapers, including The Press Democrat in Santa Rosa, Calif., the News Chief in Winter Haven, Fla., and The Tuscaloosa News in Tuscaloosa, Ala.
Financial details of the transaction were not disclosed.
The New York Times, The Boston Globe, The International Herald Tribune, The Worcester Telegram & Gazette in Worcester, Mass., and the About Group are not part of the sale.
The announcement comes less than a week after the company's CEO Janet Robinson stepped down.
The Times Co., like many newspaper publishers, has struggled in recent years as advertisers shift from newspapers to cheaper alternatives on the Internet.
CNN's Carol Costello weighs in on the Doritos 'fetus' ad
LaVoy Finicum Was Not Murdered. He Forced Oregon Police To Shoot Him.
12 problems with feminism
Cruz Easily Won the New Hampshire GOP Debate | RedState
Craig Steiner - The Clinton Surplus Myth
Quotes of the day
America is a Nation Headed For a Fall