NORTH BAY -- The New York Times Company (NYSE: NYT) and Halifax Media Holdings LLC today announced the closing of the sale of The New York Times Company Regional Media Group to Halifax Media Holdings LLC for $143 million in cash, subject to certain adjustments.

The group of 16 publications includes The Press Democrat, North Bay Business Journal and Petaluma Argus-Courier.

Founded in 2010, Halifax Media is headquartered in Daytona Beach, Fla. The company’s investment group includes Stephens Capital Partners LLC, Jaarsss Media, and Redding Investments. Halifax’s strategy is to invest long-term capital in quality companies positioned in strong markets that are closely connected to the community.