Cox Enterprises Selling Austin American-Statesman, Valpak Direct Mail Unit, Other Assets

imageIt’s a buyer’s market for newspaper assets right now: Cox Enterprises is the latest to hang a for-sale sign on certain assets, as it’s announced plans to sell the Austin American-Statesman, affiliated site, as well as other standalone community titles in North Carolina, Colorado and Texas. In addition, it’s looking to sell of Valpak, the distributor of direct mail and coupon marketing. The company has hired Citi to manage the sale of the newspapers and Goldman for the sale of Valpak. Major titles remaining in the fold include The Atlanta Journal-Constitution, The *Palm* Beach Post, Dayton Daily News. It’s not clear how much the company is looking for, but it plans to use the proceeds to pay down debt — just like what’s been going on at Tribune. The company has also shown a willingness to be aggressive in new media investment, as it acquired ad platform Adify in April for $300 million. Release.