The New York Times Co. is in advanced talks to sell all of its small, regional publications.

The company said Monday that Halifax Media Holdings LLC., owner of the Daytona Beach News-Journal in Florida, is preparing to purchase the Times' Regional Media Group division. The unit consists of 16 regional newspapers, including The Press Democrat in Santa Rosa, Calif., the News Chief in Winter Haven, Fla., and The Tuscaloosa News in Tuscaloosa, Ala.

Financial details of the transaction were not disclosed.

The New York Times, The Boston Globe, The International Herald Tribune and the About Group are not part of the sale.

The announcement comes less than a week after the company's CEO Janet Robinson stepped down.