The New York Times (NYT) gains 1.7% AH after announcing it has agreed to sell its Regional Media...

|About: New York Times Co. (NYT)|By:, SA News Editor

The New York Times (NYT) gains 1.7% AH after announcing it has agreed to sell its Regional Media Group, which owns 16 regional newspapers and various other publications, to privately-owned Halifax Media Holdings for $143M in cash ($150M in post-tax proceeds). The transaction is expected to close in Q1 2012.