The New York Times Co. today announced it is in "advanced discussions" to sell its Regional Media Group, which includes the Business Journal, Santa Rosa Press Democrat, Petaluma Argus-Courier and 13 other publications and related businesses, to Halifax Media Holdings, LLC.
Halifax Media Group currently owns one publication, the Daytona Beach News-Journal in Florida.
Bruce Kyse, publisher of the Press Democrat Media Group, told staff members in Santa Rosa this morning that any decision on the sale could come soon, perhaps today. Regardless, it will be business as usual, he said.
"We've been owned by the Times for a long time, but we are known here for who we are," Mr. Kyse said.
Brad Bollinger, editor and associate publisher of the Business Journal, noted the Journal will enter its 25th year in 2012 and "is an institution in the North Bay."
A major financial backer for Halifax Media is The Stephens Group of Little Rock, Ark., according to Mr. Kyse. One of its investments is the Las Vegas-based Stephens Media Group, which owns more than 50 daily newspapers, including the Las Vegas Review-Journal, and other publications, including a business journal, the Las Vegas Business Press.
Publications in the New York Times Regional Media Group are:AlabamaThe Tuscaloosa News, Tuscaloosa
The Gadsden Times, GadsdenCalifornia
The Press Democrat, Santa Rosa
North Bay Business Journal, Santa RosaFlorida
Sarasota Herald-Tribune, Sarasota
The Ledger, Lakeland
The Gainesville Sun, Gainesville
News Chief, Winter HavenStar-Banner, OcalaLouisiana
The Courier, Houma
Daily Comet, ThibodauxNorth Carolina
The Dispatch, LexingtonSouth Carolina
The New York Times Co. had revenues of $2.4 billion in 2010. It includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers and more than 50 websites, including NYTimes.com, BostonGlobe.com, Boston.com and About.com.