Times Company Sells Regional Media Group for $143 Million
The deal between The New York Times Company and Halifax Media Group that was leaked last week is now complete. The Times Company will sell its Regional Media Group, which consists of 16 regional papers, to Halifax for $143 million in cash. Why cash? We’re not sure. Maybe Arthur Sulzberger Jr. is planning a Vegas bash to escape the flak he’s catching and needs some cash for the casinos and… other entertainment venues that require cash.
A memo from the Regional Media Group announcing the deal was obtained
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