NYT, CLNO, FFG, MHP Stock Market Update from CRWEFinance.com

Posted by edeltatc2 | Asset management, Commodities, Currencies, Financial advisors, Forex, Forex Learning, Investing, Investment Alternatives, Money Management, Mutual funds, Real estate, Stock market, currency trading, forex trading | Monday 16 January 2012 1:00 am

The New York Times Company (NYSE:NYT) has entered into an agreement to sell its Regional Media Group, consisting of 16 regional newspapers, other print publications and related businesses, to Halifax Media Holdings LLC for $143 million in cash, subject to certain adjustments. The transaction is expected to close within a few weeks and upon completion of the sale, the Company will record an after-tax gain on the sale in the first quarter of 2012. The Company intends to use the net proceeds for general corporate purposes. The Company estimates the net after-tax proceeds from the sale will be approximately $150 million.

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