New York Times Selling Regional Papers to Halifax Media Group

Dec 20, 2011

The New York Times (NYT) Co. is in the process of selling its Regional Media Group, responsible for 16 regional newspapers and other print publications and related businesses, to Halifax Media Group, of Daytona Beach, Fla.

Fifteen of the newspapers are dailies, one is a weekly. The group's average daily circulation is 433,251, and NYT Co. reported $161.3 million in Regional Media assets earlier this year.

On's Media Decoder blog, Amy Chozick noted that advertising revenue has decreased drastically since 2008 and that classified ads make up 28 percent of the ads in the regional newspapers.