The New York Times Co. will likely deal 16 regional papers to Halifax Media Holdings, the company reported in a press release. Most of the publications are based in the US Southeast. Specifics on the transaction were not revealed; the Times recently announced its CEO will step down at the end of 2011, but the paper has not yet announced a replacement.
The New York Times Company Confirms It Is in Discussions to Sell Its Regional Media Group
Published on Monday, 19 December 2011 12:55
NEW YORK-( Business Wire )-
The New York Times Company (NYSE: NYT) announced today that it is in advanced discussions to sell its Regional Media Group, consisting of 16 regional newspapers, other print publications and related businesses, to Halifax Media Holdings LLC.
The Regional Media Group comprises the following publications:
• 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.;
• Star-Banner in Ocala, Fla.;
• The Gainesville Sun in Gainesville, Fla.;
• The Tuscaloosa News in Tuscaloosa, Ala.;
• The Gadsden Times in Gadsden, Ala.;
• The Courier in Houma, La.;
• Times-News in Hendersonville, N.C.;
• Daily Comet in Thibodaux, La.;
• The Dispatch in Lexington, N.C.;
• Petaluma Argus-Courier in Petaluma, Calif.;
• News Chief in Winter Haven, Fla.; and
• North Bay Business Journal in Santa Rosa, Calif.
Except for the historical information contained herein, the matters discussed in this press release are forward-looking statements that involve risks and uncertainties that could cause actual results to differ materially from those predicted by such forward-looking statements. These risks and uncertainties include national and local conditions, as well as competition, that could influence the levels (rate and volume) of retail, national and classified advertising and circulation generated by the various markets, material increases in newsprint prices and the development of digital businesses. They also include risk factors detailed from time to time in The New York Times Company’s publicly filed documents, including its Annual Report on Form 10-K for the year ended December 26, 2010. The New York Times Company undertakes no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events or otherwise.
About The New York Times Company
The New York Times Company (NYSE: NYT), a leading media company with 2010 revenues of $2.4 billion, includes The New York Times, the InternationalHerald Tribune, The Boston Globe, 15 other daily newspapers and more than 50 Web sites, including NYTimes.com, BostonGlobe.com, Boston.com and About.com. The Company’s core purpose is to enhance society by creating, collecting and distributing high-quality news, information and entertainment.