Press

Halifax Media Group Closes Purchase of New York Times Company Regional Media Group

January 6, 2012

PRESS RELEASE

Contacts:

For Halifax Media Group Media:

- Michael Redding, 386-265-6810, michael.redding@halifaxmediagroup.com

- Lori Catron, 386-265-6830 lori.catron@halifaxmediagroup.com

Halifax Media Group Closes Purchase of New York Times Company Regional Media Group

DAYTONA BEACH, FL, Jan. 6, 2012 – Halifax Media Group today closed a deal to purchase 16 regional newspapers from The New York Times Company for $143 million.

The acquisition significantly expands Halifax Media's reach in Florida and the Southeast. Halifax Media currently publishes The Daytona Beach News-Journal and a variety of publications in Florida.

The newspapers acquired include:

“We are pleased to have the sale process behind us and look forward to the newspapers joining our group,” said Michael Redding, Chief Executive Officer of Halifax Media. “These are excellent newspapers for their communities, and they fit Halifax Media's goals. The feedback from the publishers and employees has been terrific.”

Among other achievements, the acquired newspapers have received three Pulitzer prizes, including the 1971 prize for editorials in The Gainesville Sun on the peaceful desegregation of Florida's schools, the 1997 Prize for spot news photography for The Press Democrat for a photograph of a firefighter rescuing a teenager from raging floodwaters and the 2011 Prize for investigative reporting for the Sarasota Herald-Tribune's year-long series on the challenges that Florida's property insurance industry have posed for ordinary citizens.

About Halifax Media Group

Founded in 2010, Halifax Media is headquartered in Daytona Beach, Fla. The company's investment group includes Stephens Capital Partners, JAARSSS Media, and Redding Investments. The Group's strategy is to invest long-term capital in quality companies positioned in strong markets that are closely connected to the community.