Cox Enterprises Inc. will sell The Lufkin Daily News and The Daily Sentinel in Nacogdoches, Texas, to Houston-based Southern Newspapers Inc. (source)
Atlanta-based Cox Enterprises did not disclose financial terms, but said the deal should close on May 31.
Cox Enterprises’ other newspapers in Texas and all of Cox’s stand-alone community newspapers in North Carolina and Colorado are still up for sale. Cox Enterprises hired Citigroup and Dirks, Van Essen & Murray to market those papers.
“Cox Enterprises greatly values the contributions that the employees of The Lufkin Daily News and The Daily Sentinel have made to our company,” said Doug Franklin, executive vice president of Cox Newspapers, in a press release. “These local institutions are important to their communities, and we are confident that Southern Newspapers will continue the tradition these newspapers have of providing timely, valuable and trustworthy news and information to their readers.”
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