News

New York Times in talks to sell regional newspapers

The New York Times Company is in “advanced” talks to sell 16 of its regional newspapers in a deal worth $145m, as the company looks to focus on its core newspaper business.

The company is said to be negotiating a deal with Florida-based publisher Halifax Media Holdings, which owns the Daytona Beach News-Journal and four other local news organisations, to take-over 16 of its US titles including the Sarasota Herald-Tribune, Press Democrat, Star-News and Tuscaloosa.

If the sale goes ahead, the company will be able to focus on its anchor newspapers the New York Times, the Boston Globe and International Herald Tribune. Analysts believe the sale will be completed before the end of the year.

The news comes just days after The New York Times Company chief executive Janet Robinson announced her departure at the end of the year, ending a 28-year stint at the company.

Jenni Baker, London