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Cox To Sell Newspapers, Valpak Coupon Business

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By RICHARD MULLINS | The Tampa Tribune

Published: August 13, 2008

Cox Enterprises Inc. plans to sell its Austin, Texas, newspaper and several other smaller papers, reducing the company's portfolio of advertising-supported media properties.

The company said it also will sell its Valpak direct coupon mailing business, which recently built one of Florida's largest factories, a $220 million factory in St. Petersburg that produces 45 million of the company's iconic blue envelopes a month.

The facility employs 500 people, operating three shifts, six days a week.

Cox, a privately held company based in Atlanta, said Wednesday it will use proceeds from the sales to pay down debt, though it did not disclose how much money it expects from the sales.

Cox officials didn't immediately return messages seeking comment.

Reporter Richard Mullins can be reached at (813) 259-7919 or rmullins@tampatrib.com.

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