NY Times Could Sell 16 Regional Papers

MIAMI (AP) — 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.

Source: Associated Press