The New York Times Company (NYSE:NYT) and Halifax Media Holdings closed the sale of The New York Times Company Regional Media Group to Halifax for $143 million in cash, subject to certain adjustments.The Times Company will record an after-tax gain on the sale in the Q1 12 and estimates the net after-tax proceeds from the sale, including a tax benefit, will be approximately $150 million. The Times Company will use the net sale proceeds for general corporate purposes, the company said.The New York Times (NYSE:NYT) has potential upside of 2.7% based on a current price of $7.79 and an average consensus analyst price target of $8.