(Direct Newsline) Cox Enterprises, Inc. said it plans to sell Valpak, the cooperative direct mail company along with the Austin American-Statesman, and all of Cox’s community newspapers in North Carolina, Colorado and Texas.

Cox will retain ownership of The Atlanta Journal-Constitution, The Palm Beach Post, Dayton Daily News and their affiliated publications.

“This decision was made as part of an ongoing strategic review of our portfolio and enables us to maintain our strong and stable financial performance by further paying down debt,” said Jim Kennedy, CEO, in a statement.

He noted that about 80% of Cox’s revenue now comes from sources other than newspapers, television and radio.

Cox has hired Goldman Sachs to help sell Valpak and Citigroup to assist with the marketing of the newspapers.

Cox Enterprises, Inc. said it plans to sell Valpak, the cooperative direct mail company along with the Austin American-Statesman, , and all of Cox’s community newspapers in North Carolina, Colorado and Texas.

Cox will retain ownership of The Atlanta Journal-Constitution, The Palm Beach Post, Dayton Daily News and their affiliated publications.

“This decision was made as part of an ongoing strategic review of our portfolio and enables us to maintain our strong and stable financial performance by further paying down debt,” said Jim Kennedy, CEO, in a statement.

He noted that about 80% of Cox’s revenue now comes from sources other than newspapers, television and radio.

Cox has hired Goldman Sachs to help sell Valpak and Citigroup to assist with the marketing of the newspapers.