Thursday, July 16, 2009

Cox to sell off several newspapers, Val Pak operations

Cox Enterprises Inc. announced Wednesday it plans to sell several newspapers throughout the chain, as well as its direct mail advertising service, Val Pak, to pay down debt.

The Atlanta Journal-Constitution, the company's largest daily newspaper, is not among the papers to be sold.

The largest newspaper for sale is the Austin (Tex.) American-Stateman and affiliated operations, including its Web site. Other papers slated to be sold by Atlanta-based Cox Enterprises are community publications in North Carolina, Texas and Colorado.

Cox Enterprises also will retain major dailies The Palm Beach Post, Dayton Daily News and publications affiliated with each.

Cox papers, including the AJC and the Palm Beach Post, have gone through series of job buyouts and layoffs over the past several years as profits have fallen. Palm Beach announced it would cut 130 jobs from its 300-member newsroom and the AJC announced a restructuring designed to cut 8 percent of its workforce, or more than 150 jobs through buyouts and other voluntary and involuntary measures.

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