NEW YORK (AP) - Cox Enterprises today announced plans to sell its Austin and Waco newspapers and several other smaller papers.
The move will reduce Atlanta-based Cox's portfolio of advertising-supported media properties.
The privately held company says it will use proceeds from the sales to pay down debt.
The company intends to sell:
-- the Austin American-Statesman and five other community papers in Texas, including the Waco Tribune-Herald, the Longview News-Journal, The Lufkin Daily News, The Daily Sentinel in Nacogdoches and the Marshall News Messenger.
-- three newspaper in North Carolina, including the Rocky Mount
-- and two in Colorado.
The company will also sell its Valpak direct coupon mailing business.
It did not say how much it expects to fetch for the properties.
After the sales, Cox Newspapers will still operate The Atlanta Journal-Constitution, along with The Palm Beach Post in Florida and the Dayton Daily News in Ohio.
(Copyright 2008 by The Associated Press. All Rights Reserved.)