Harte-Hanks Will Sell 56 Small Media Units
Harte-Hanks Communications announced Friday that it plans to sell 56 of the company’s smaller media companies in 12 states to focus on larger markets.
The planned divestiture represents about half of the company’s divisions but only 15% of the company’s revenue and operating profit, said Bob Marbut, Harte-Hanks’ president and chief executive.
“This is another major step in implementing our corporate strategy of focusing on a smaller number of larger divisions in attractive markets,” Marbut said.
“These moves will enhance our ability to fulfill our corporate mission of being a growth-oriented, nationwide communications company.”
Company officials also announced that Tucker Sutherland, senior vice president of Harte-Hanks and president of Harte-Hanks Newspapers, will leave the corporation, form his own media company and become a bidder on some of the newspapers that will be divested. Sutherland, 48, who was been with the company for 17 years, said he would base his operations in San Antonio.
The media properties up for sale are in Texas, Arizona, Arkansas, California, Colorado, Georgia, Missouri, North Carolina, New Mexico, Ohio, Oklahoma and Tennessee.
The newspapers and newspaper-related divisions being sold in California include: the La Jolla Light, Coronado Journal, Star-News Publication in Chula Vista and Publishers’ Offset, which is based in San Diego.
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