The Worcester (Mass.) Telegram & Gazette, long up for sale, reported Thursday that an executive team from Halifax Media Group had been in the building for several days of talks with management — a signal that the company is a likely buyer.
Halifax who? The Florida-based company, barely four years old, now has 35 dailies. With a billionaire backer, Warren Stephens of Arkansas, Halifax is pushing to the front of the line as mid-sized and smaller papers come up for sale. It bought the 16-paper New York Times Regional group for $143 million in December 2011 and 19 Florida and North Carolina dailies and weeklies from Freedom Communications six months later.
Halifax is little-known by design. Except for the occasional letter to readers, CEO Michael Redding typically does not do interviews (and I got no response to an email request that he discuss the company’s growth).… Read more