Cox Enterprises To Divest Of Papers; Valpak Direct Mail Unit
This story was written by Joseph Weisenthal.
It's a buyer's market for newspaper assets right now: Cox Enterprises is the latest to hang a for-sale sign on certain assets, as it's announced plans to sell the Austin-American Statesman, affiliated site Austin360.com, as well as other standalone community titles in North Carolina, Colorado and Texas. In addition, it's looking to sell of Valpak, the distributor of direct mail and coupon marketing. It's not clear how much the company is looking for, but it plans to use the proceeds to pay down debtjust like what's been going on at Tribune. The company has also shown a willingness to be aggressive in new media investment, as it acquired ad platform Adify in April for $300 million.Release.
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By Joseph Weisenthal