Media News - Tuesday, December 20, 2011
New York Times selling off 16 regional newspapers
Word leaked Monday, Dec. 19, that The New York Times Co. is selling off 16 of its regional newspapers, according to Reuters. If the sale to Halifax Media, which owns The Daytona-Beach News Journal, goes through, included would be regional newspapers such as the Sarasota Herald-Tribune, The Ledger, Star-Banner, The Gainesville Sun and News Chief in Florida; the Herald-Journal in South Carolina; and The Press Democrat in California, for a total weekday circulation of about 430,000, Reuters explained. The Boston Globe is not part of the sale. According to The New York Times, advertising for the regional newspapers, known as the Regional Media Group, fell 30.2 percent, to USD 193 million, between 2008 and 2009, and fell another 8.2 percent in 2010 to USD 177 million. Forbes pointed out that that cutting loose the regional newspapers is part of the NY Times' strategy to emphasize digital circulation - it implemented a paywall earlier this year, and 81 percent of digital subscribers are outside the New York market. (Knight Center)
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