Cox Media Group announces plans to sell newspapers in Austin and Palm Beach
Cox Media Group has announced its plans to sell its Austin American-Statesman and related Texas community newspapers and the Palm Beach newspapers, including The Palm Beach Post and Palm Beach Daily News.
"After careful consideration, we have made the difficult but strategic decision to put our newspapers in Palm Beach and Austin up for sale," said CMG President Kim Guthrie. "Our company got its start nearly 120 years ago with a single newspaper in Dayton, and we have a long history of award-winning journalism in all of our newspaper markets."
Guthrie said that the company continues to have a strong belief in the Fourth Estate and the value strong journalism plays in the nation's democracy, but its strategic business focus is changing.
"As the media business continues to change, we must adapt our business strategy to navigate these disruptive times for the benefit of our entire media portfolio," she added. "We have made the decision that we will be better equipped to operate our newspapers in Atlanta and Ohio, where we have the integrated opportunity with our TV and radio operations. We are deeply grateful to the employees in Austin and Palm Beach for the great work they have done over the years."