Texas Hill Country News

The Austin-American Statesman Newspaper is Up For Sale

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“After careful consideration, we have made the difficult but strategic decision to put our newspapers in Palm Beach and Austin up for sale. 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,” Austin Culture Map quotes Kim Guthrie, president of Cox Media Group. The Cox Media Group has put the Austin-American Statesman newspaper up for sale along with numerous websites and seven small Texas newspapers.

The Statesman writes that Cox attempted to sell the newspaper back in 2008, but decided to keep the publication in 2009. Employees were reassured that putting the Statesman back up for sale this year is not a reflection of the quality of the newspaper. In fact, media business analyst Rick Edmonds thinks that the Statesman could have several prospective buyers like the owner of the San Antonio Express-News and the Houston Chronicle, Hearst. “And there is always the chance that a wealthy local individual might find ownership attractive — as happened with the Boston Globe or Minneapolis Star Tribune,” Edmonds said.

Cox recently sold the Statesman property to a “family entity.” “The entity has since hired Austin-based Endeavor Real Estate Group to create a redevelopment plan for the 18.9-acre site,” the Statesman writes.