LITTLE ROCK — Halifax Media Holdings LLC, of which Stephens Capital Partners of Little Rock is the majority owner, has agreed to purchase 16 newspapers and other related businesses from the New York Times Co. for about $143 million.

LITTLE ROCK — Halifax Media Holdings LLC, of which Stephens Capital Partners of Little Rock is the majority owner, has agreed to purchase 16 newspapers and other related businesses from the New York Times Co. for about $143 million.

Stephens Capital Partners is owned by Warren Stephens of Little Rock. Warren Stephens, along with other members of the Stephens family, also owns Stephens Media, which has 11 daily newspapers, including the Times Record in Fort Smith and the Pine Bluff Commercial, and 64 weekly newspapers, as well as the Arkansas News Bureau.

The transaction is expected to close within a few weeks. The New York Times says it expects net after-tax proceeds from the sale of its Regional Media Group to be about $150 million.

The Regional Media Group includes Sarasota Herald-Tribune in Sarasota, Fla.; The Press Democrat in Santa Rosa, Calif.; The Ledger in Lakeland, Fla.; Star-News in Wilmington, N.C.; Herald-Journal in Spartanburg, S.C.; Star-Banner in Ocala, Fla.; The Gainesville Sun in Gainesville, Fla.; and The Tuscaloosa News in Tuscaloosa, Ala.

Also, The Gadsden Times in Gadsden, Ala.; The Courier in Houma, La.; Times-News in Hendersonville, N.C.; Daily Comet in Thibodaux, La.; The Dispatch in Lexington, N.C.; Petaluma Argus-Courier in Petaluma, Calif.; News Chief in Winter Haven, Fla.; and North Bay Business Journal in Santa Rosa, Calif.

“These news organizations have served as trusted institutions in their communities, delivering news and information that matter most to their readers,” Arthur Sulzberger Jr., chairman of The New York Times Co., said in a news release. “The sale of our Regional Media Group will enable The New York Times Co. to continue our transformation to a digitally-focused, multi-platform media company.”

Michael Redding, CEO of Halifax Media, said the strong local news coverage the papers provide represents not only an important community service but also a good investment.

“We have been impressed with the newspapers’ reputations as well as the markets they serve. When you have the opportunity to purchase solid news products located in great markets, it is very compelling, and we are excited to have the group join Halifax Media,” Redding said.

Under the New York Times’ stewardship, the papers have received three Pulitzer Prizes, including a 1971 prize for editorials in The Gainesville Sun on the peaceful desegregation of Florida’s schools; a 1997 prize for spot news photography for The Press Democrat for a photograph of a firefighter rescuing a teenager from raging floodwaters; and a 2011 prize for investigative reporting for the Sarasota Herald-Tribune’s year-long series on the challenges that Florida’s property insurance industry have posed for ordinary citizens.

The New York Times Co. includes The New York Times, the International Herald Tribune, The Boston Globe, 15 other daily newspapers and more than 50 websites. It reported 2010 revenues of $2.4 billion.

Halifax Media was founded in 2010 and is headquartered in Daytona Beach, Fla. The company’s investment group, in addition to Stephens Capital Partners LLC, includes Jaarsss Media and Redding Investments.