NYTs Completes Sale Of Regional Media Group

  • January 6, 2012

The New York Times Co. has completed the sale of its regional media group to Halifax Media Holdings for $143 million in cash, subject to certain adjustments. The Times Co. said it will record an after-tax gain on the sale in the first quarter of 2012 and estimated the net after-tax proceeds from the sale -- including a tax benefit -- will be approximately $150 million. The Times Co. said it will use the net sale proceeds for general corporate purposes.

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