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(New York) Times Co. Negotiating to Sell Regional Newspapers (Dinosaur Media DeathWatch™)
The New York Times ^ | December 19, 2011 | Amy Chozick

Posted on 12/20/2011 12:15:26 PM PST by abb

The New York Times Company said on Monday it was in advanced talks to sell 16 regional newspapers, another indication the company was divesting itself of assets to concentrate on its core newspaper business.

Halifax Media Holdings of Daytona Beach, Fla., is currently negotiating the purchase of the Times Company’s Regional Media Group, a division that includes newspapers across the country like The Sarasota Herald-Tribune in Florida; The Press Democrat in Santa Rosa, Calif.; The Star-News in Wilmington, N.C.; The Gainesville Sun, also in Florida; and The Tuscaloosa News in Alabama.

Combined, the papers have a Monday-through-Friday circulation of 433,251 and 1,755 full-time employees. Analysts estimated that the sale of the regional papers would be completed later this week and priced at around $145 million. Robert H. Christie, a spokesman for the Times Company, declined to comment.

As print advertising revenue continues to decline, the Times Company has sold assets to focus on its anchor newspapers, The New York Times, The Boston Globe and The International Herald Tribune. In July, the Times Company sold more than half of its stake in the Fenway Sports Group, the owner of the Boston Red Sox, for $117 million.

As optimism for the new digital subscription service at The New York Times newspaper has grown, the company’s regional publications have lagged, the steady decline driven by a drop-off in classified advertising and the migration of readers to the Web. In 2010, the Regional Media Group accounted for 11 percent of the company’s $2.4 billion in revenue.

snip

(Excerpt) Read more at mediadecoder.blogs.nytimes.com ...


TOPICS: Business/Economy; Culture/Society; Extended News; News/Current Events
KEYWORDS: circulation; dbm; newspapers; nytimes
Throwing the women and children overboard...
1 posted on 12/20/2011 12:15:30 PM PST by abb
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To: 04-Bravo; aimhigh; andyandval; Arizona Carolyn; Bahbah; bert; bilhosty; Caipirabob; carmenbmw; ...

ping


2 posted on 12/20/2011 12:16:51 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

The Incredible Shrinking Liberal Rag


3 posted on 12/20/2011 12:22:25 PM PST by Iron Munro ("Don't pick a fight with an old man. If he is too old to fight he'll just kill you." John Steinbeck)
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To: abb

I saw a Yahoo story about “10 companies” that might not survive 2012 or something yesterday.... one of them was the Washington Post.... I guess Kaplan online college isn’t raking in the profits as they had hoped?


4 posted on 12/20/2011 12:24:58 PM PST by GeronL (The Right to Life came before the Right to Pursue Happiness)
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To: abb

http://www.niemanlab.org/2011/12/robert-hernandez-for-journalisms-future-the-killer-app-is-credibility/
Robert Hernandez: For journalism’s future, the killer app is credibility

http://www.niemanlab.org/2011/12/dan-gillmor-2012-will-be-the-year-of-the-content-controller-oligopoly/
Dan Gillmor: 2012 will be the year of the content-controller oligopoly

http://newspaperdeathwatch.com/can-1400-dailies-die-in-5-years-yes/
Can 1,400 Dailies Die in 5 Years? Yes

http://newsosaur.blogspot.com/2011/12/newspaper-job-cuts-surged-30-in-2011.html#comments
Newspaper job cuts surged 30% in 2011

http://gannettblog.blogspot.com/2011/12/cincy-is-it-journalism-or-press-release.html
Cincy | Is this journalism — or a press release?

http://www.poynter.org/latest-news/mediawire/156751/margins-since-1989-show-dwindling-profits-for-media-companies/
Margins since 1989 show dwindling operating profits for media companies


5 posted on 12/20/2011 12:32:58 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb

http://www.poynter.org/latest-news/mediawire/156745/enquirer-to-eliminate-200-jobs-as-plant-closes-printing-outsourced-to-columbus/
Cincinnati Enquirer to eliminate 200 jobs as plant closes

http://www.medialifemagazine.com/artman2/publish/Newspapers_24/Newspaper-s-2012-outlook-Bleaker.asp
Newspapers’ 2012 outlook: Bleaker

http://www.medialifemagazine.com/artman2/publish/Media_economy_57/Big-hiccup-brings-the-ad-recovery-to-a-halt.asp
Big hiccup brings the ad recovery to a halt

http://www.observer.com/2011/12/new-york-times-buyouts-leaked-12192011/
Goodbye, Gray Lady: New York Times Legends Take Buyouts, Internal Tributes Follow in Suit


6 posted on 12/20/2011 12:39:31 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: abb
"Throwing the women and children overboard..."

Or is it time to bring the page 3 girls onboard.. ;-)

7 posted on 12/20/2011 12:40:21 PM PST by almost done by half
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To: abb
priced around $145 million

Be mildly interesting to know what the Times paid for them.

8 posted on 12/20/2011 12:49:25 PM PST by DManA
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To: DManA

That should show up as a writedown when the sale is booked. I know they’ve taken a butt-whipping on the Boston Glob. Paid like $1.1 billion for it in 1993, and its worth maybe a quarter of that now.


9 posted on 12/20/2011 12:52:42 PM PST by abb ("What ISN'T in the news is often more important than what IS." Ed Biersmith, 1942 -)
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To: almost done by half
"Throwing the women and children overboard..."

Or is it time to bring the page 3 girls onboard.. ;-)

Something tells me page 3 girls would float.

10 posted on 12/20/2011 12:55:43 PM PST by Drill Thrawl (The patient is too far gone to save.)
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To: abb
Yes, very good sign of the times. Or sign of the Slimes as it may be. The fewer outlets these Slimers have, the better for the state of the Union.
11 posted on 12/20/2011 5:09:12 PM PST by hinckley buzzard
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To: abb
All garbage. Local and smaller municipal newspapers which publish local news and a headline service, are flourishing under the media radar.

Rupert Murdoch predicted this, btw, a number of years ago at a ASNE convention, when he said if he was going into the newspaper business then, he would concentrate on midsize community papers, not flagship Titanics.

I am glad to see the einsteins of NY and DC ignoring his advice. The Slimes is cutting loose the lifeboats in favor of saving the orchestra on the main deck.

12 posted on 12/20/2011 5:15:34 PM PST by hinckley buzzard
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To: DManA
Be mildly interesting to know what the Times paid for them.

hehehe. Guaranteed, it was a whole lot more..

13 posted on 12/20/2011 5:16:56 PM PST by hinckley buzzard
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To: abb
Is this Halifax Media Group left-leaning or more conservative? I doubt that the NYT would sell to an identifiably conservative group, but if they are desperate for cash, I suppose it could happen.
14 posted on 12/20/2011 6:05:17 PM PST by Major Matt Mason (The Chicago Way isn't the American Way.)
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To: abb
"...the company was divesting itself of assets to concentrate on its core newspaper business."

Let's hope so.


15 posted on 12/20/2011 8:27:36 PM PST by ex91B10 (We've tried the Soap Box,the Ballot Box and the Jury Box; one box left.)
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To: abb

The NYT will buy out Vecsey and other useful writers but continue to employ Paul Krugman. Too bad they aren’t flushing some of the true bilge out of that paper.


16 posted on 12/22/2011 6:14:11 PM PST by MovementConservative (Go Mariners! 2012!)
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