1. New York Times Sells Asset.
- Author
-
ADAMS, RUSSELL
- Subjects
- *
SALE of business enterprises , *NEWSPAPERS , *LIQUIDITY (Economics) - Abstract
The article reports on the decision of New York Times Co. to sell the "TimesDaily," a newspaper based in Florence, Alabama and part of the Regional Media Group. It mentions that vice chairman Michael Golden was appointed president and chief operating officer of the group. It cites that the buyer of the paper is Tennessee Valley Printing Co., but terms of the sale were not disclosed. It notes that Times has been trying to sell assets to improve liquidity as it faces declining profit and looming debt payments.
- Published
- 2009