Monday, December 19, 2011

NY Times in talks to sell Santa Rosa Press Democrat

The Santa Rosa Press Democrat is among the 16 local newspapers The New York Times Co. is in talks to sell to Halifax Media Holdings, a newspaper company based in Daytona Beach, Fla.

The Wall Street Journal quoted an analyst at Barclays Capital as saying that the 16 papers could fetch between $150 million and $175 million, based on their earnings.

The Times announced it was selling its regional papers just days after its CEO, Janet Robinson, announced she will resign at the end of the year. With the sale, The New York Times Co. would consist of the flagship Times newspaper, the International Herald Tribune, the Boston Globe and the About Group, a network of informational websites.

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