New York Times sells Houma, Thibodaux papers

The New York Times Company, which has owned The Courier in Houma and Daily Comet in Thibodaux for 31 years, has sold the daily newspapers to a Florida media company as part of a $143 million sale of 16 regional papers across the U.S. The sale to Halifax Media Holdings, which is headquartered in Daytona Beach and owner of the Daytona Beach News-Journal, is expected to close in the coming weeks. Halifax approached the Times about buying the regional papers, a company news release says. The sale continues a longer-term effort by the New York Times Company to streamline its holdings and pay down debt as revenue at its flagship newspaper has declined. The company says it intends to use the estimated $150 million in after-tax gains from the sale for “general corporate purposes.” What the sale means for the approximately 110 employees at the Houma and Thibodaux papers—and readers of the papers—remains unclear. “We are pleased that the newspapers will be sold as a unit and that Halifax Media Holdings anticipates offering employment to the vast majority of employees,” reads a statement issued to employees on Tuesday. “You will be notified within the next 48 hours whether the buyer will be offering you employment.” Read the full story from The Courier here.