by Kate Knable
Posted 11/12/2012 12:00 am
Halifax Media Group, the Daytona Beach, Fla., media company with partial Arkansas ownership, has agreed to sell three of its 2012 acquisitions.
Halifax is selling the daily Santa Rosa Press Democrat and the North Bay Business Journal and The Petaluma Argus-Courier, both published weekly, to Sonoma Media Investments LLC. All three publications are in California. The Press Democrat’s circulation is 53,770 daily and 59,000 on Sunday.
The deal is expected to close this month, but the media companies have not disclosed financial details of the agreement.
Halifax bought the three papers last January from the New York Times Co. as part of a 16-publication purchase.
“Sonoma Media is funded by investors who live in the community and care about their local newspaper,” said Halifax CEO Michael Redding in a press release. “Considering 90 percent of our company is based in the Southeast, it makes geographic sense for Sonoma Media to own the business.”
Stephens Capital Partners of Little Rock is the majority owner of Halifax. Halifax owns 36 newspapers in six states.