Tags: Extra! Extra! Cox to Sell Newspapers

Extra! Extra! Cox to Sell Newspapers

Tuesday, 16 Mar 2010 12:23 PM

U.S. media company Cox Enterprises Inc said late on Wednesday it would sell three of its newspapers, as it seeks to pay down debt.

Without disclosing the terms of the sale, the Atlanta-based company said it would sell the Daily Sentinel, the Nickel and the Waco Tribune-Herald.

Robinson Media Co will buy the Waco, Texas newspaper, while Grand Junction Media Inc will buy the other two papers, Cox said in separate statements.

The transactions are expected to close in the upcoming weeks, Cox said.

Cox and other U.S. publishers are struggling with plunging revenue as advertisers devote less money to buying space in newspapers.

Subsidiary Cox Communications has decided to sell its Travel Channel, valued at about $600 million to $1 billion, in an auction expected to start in a few days, two sources familiar with the matter told Reuters on Wednesday.

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U.S. media company Cox Enterprises Inc said late on Wednesday it would sell three of its newspapers, as it seeks to pay down debt.Without disclosing the terms of the sale, the Atlanta-based company said it would sell the Daily Sentinel, the Nickel and the Waco...
Extra! Extra! Cox to Sell Newspapers
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2010-23-16
 

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