NY Times in discussions to sell 16 regional papers

AP News
Posted: Dec 19, 2011 4:58 PM
NY Times in discussions to sell 16 regional papers

The New York Times Company says it's in advanced discussions to sell 16 regional newspapers and related businesses to Halifax Media Holdings.

The New York Times announced the development in a statement Monday.

It said publications involved in the discussions, among others, include the Sarasota Herald-Tribune in Sarasota, Fla.; The Press Democrat in Santa Rosa, Calif.; The Ledger in Lakeland, Fla.; Star-News in Wilmington, N.C.; Herald-Journal in Spartanburg, S.C.; The Gainesville Sun in Gainesville, Fla.; The Tuscaloosa News in Tuscaloosa, Ala., The Courier in Houma, La.

Halifax, based in Daytona Beach, Fla., was created around the time it purchased The Daytona Beach News-Journal in 2010. Its investors include Stephens Capital and others including Michael Redding, chief executive officer and publisher of the News-Journal. It had no immediate comment.