New York Times Co. to Sell Regional Papers for $143 Million

NEW YORK - APRIL 21: Traffic moves along by The New York Times headquarters building April 21, 2011 in New York City. The New York Times profits fell 58 percent in the first quarter of 2011. (Photo by Ramin Talaie/Getty Images)

The New York Times Company’s not-so-secret sale of sixteen regional papers to Halifax Media Holdings will bring the Times $143 million in cash. The deal is expected to be completed in the first quarter of 2012, kind of a corporate-level New Year’s fat-trimming exercise.