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Memo Pad.(briefs)
MEMO PAD
OUT OF THE REGIONS: On Tuesday, The New York Times Co. sold its regional newspaper business to Halifax Media Holdings, a Daytona Beach, Fla.-based investment firm, for $143 million in cash. Last week, the Times Co. revealed it was in advanced discussions with Halifax Media to sell all 16 of its regional newspapers, including the Sarasota Herald-Tribune of Florida and Tuscaloosa News of Alabama.
Halifax will notify employees within the next 48 hours about whether they will have a job with the company.
The Times stated the money from the sale would be used for general corporate purposes. "The sale of our Regional Media Group will enable The New York …
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- New York Times Co sells regional papers for $143m.
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News wire article from: Europe Intelligence Wire
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700+ words
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- Memo Pad.
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Magazine article from: WWD
Koblin, John Lipke, David
December 20, 2011
700+ words
