Warren Stephens-owned Company To Buy 16 Papers From New York Times
by December 29, 2011 12:31 am 87 views
From our content partner, the Arkansas News Bureau:
Halifax Media Holdings LLC, of which Stephens Capital Partners of Little Rock is the majority owner, has agreed to purchase 16 newspapers and other related businesses from the New York Times Co. for about $143 million.
Stephens Capital Partners is owned by Warren Stephens of Little Rock. Warren Stephens, along with other members of the Stephens family, also owns Stephens Media, which has 11 daily newspapers, including the Times Record in Fort Smith and the Pine Bluff Commercial, and 64 weekly newspapers, as well as the Arkansas News Bureau.
The transaction is expected to close within a few weeks. The New York Times says it expects net after-tax proceeds from the sale of its Regional Media Group to be about $150 million.
The Regional Media Group includes 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.; and The Tuscaloosa News in Tuscaloosa, Ala.
Also, 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.
You can read more from the Arkansas News Bureau at this link.