The New York Times Co. on Friday completed a deal to sell The Press Democrat and 15 other regional newspapers to Halifax Media Holdings LLC.

Halifax Media paid $143 million in cash for the Times Regional Media Group, subject to certain adjustments.

The transaction includes the sale of the North Bay Business Journal in Santa Rosa, Petaluma Argus-Courier and 13 newspapers and affiliated websites in the southeast United States.

Founded in 2010, Halifax Media is headquartered in Daytona Beach, Florida. The company's investment group includes Stephens Capital Partners LLC, Jaarsss Media, and Redding Investments.

The New York Times purchased The Press Democrat from the Finley family of Santa Rosa in 1985.