On April 17, 2009, the News-Journal announced its intention to declare bankruptcy, but the judge overseeing the case rejected that option. Newspaper management announced in April 2008 that the newspaper would be sold in order to satisfy the judgment. In 2006, the federal court set a valuation of $129.2 million on Cox's interest in the paper. decided to exercise its option to buy out the minority shares. The trial court found that tens of millions of dollars were diverted to Davidson family projects to "indulge personal interests in the arts".Īfter failing to have the suit dismissed, the News-Journal Corp. Despite the fact that these employees did no work for NJC, the corporation provided them with full salaries and benefits, at a cost to the company of at least $5.7 million. payroll, unbeknownst to NJC's sole minority shareholder. Cox alleged that the Davidson family spent the newspaper's money without consulting with them.Ĭourt documents reveal that in the five-year period prior to the filing of Cox's complaint, at least 58 employees of Davidson's arts and entertainment ventures were on the News-Journal Corp. Federal Court, alleging they "acted irresponsibly in spending corporate funds". Cox Enterprises filed suit against the News-Journal Corp. In January 2003, the News-Journal offered to pay $13 million for naming rights to a new performing arts center in Daytona Beach being built as a new home for the Seaside Music Theater, founded by News-Journal CEO Tippen Davidson. Cox was not represented on the board of directors and had no say in corporate decisions. The Davidson family continued to hold a 52.5% majority of the stock. Cox acquired Perry's 47.5% interest in the News-Journal, assigned a value of $5 million, as part of the transaction. In 1969, The Palm Beach Post was purchased by Cox Enterprises, a media company that owns The Atlanta Journal-Constitution and other publications. The minority shares were later sold to Perry Publications, the owner of The Palm Beach Post. Soon after, the minority owner sold his interest to R.H. Davidson, purchased a majority interest in the company, beginning an 80-year period of single family control of the publication. In 1928, Julius Davidson and his son, Herbert M. The stock company ceased publication of The Morning Journal, but continued The Evening News and The Sunday News-Journal. In 1926, the stock company bought The Daytona Daily News from Fitzgerald. Hugh Sparkman started a stock company which bought the Halifax Journal and turned it into a daily publication. Fitzgerald consolidated the two papers and on December 1, 1903, published the first issue of The Daytona Daily News. Fitzgerald bought the Daytona News in 1900 and the Ormond Gazette in 1903. Moreton Murray and returned to Daytona Beach, to start the Daytona News. Īfter selling the Halifax Journal, Mann moved to Ormond Beach and started the Ormond Gazette. Carter of the Halifax Printing Company, which operated a printing shop connected with the Halifax Journal. After Seaman's death, the paper was bought by W.C. In 1908, Jolley died and the newspaper was bought by Galen Seaman. The Halifax Journal continued as a weekly publication until Mann sold the newspaper in 1889 to J.M. The premier issue contained local news, as well as Mann's editorial of praise and hope for the Halifax area. The first issue of the Halifax Journal was printed and published on the cotton cloth, dated February 15, 1883. This delayed publication of the first issue until Mann decided to buy a bolt of cotton cloth from Laurence Thompson's dry goods store to use as a substitute. The first issue was scheduled for release on Februhowever, a schooner bringing the blank paper to Florida shipwrecked off the coast of the Carolinas, with the loss of all hands and cargo. Advertisers also paid in advance for the first three months. Prior to publication of the first issue, 86 subscribers were signed up, all paid in advance. Mann to move his printing press from Ohio to Daytona and start a new publication. A group of citizens raised money to persuade Florian A. Prices are higher outside Flagler, Volusia and adjacent counties.ĭaytona's early settlers decided that a newspaper would be important for the development of the town. The newspaper began its online services in 1994.Ĭopies are sold at $2 daily or $3 Sundays/Thanksgiving Day. In 1986, The Morning Journal and Evening News merged into one morning newspaper. The Davidson family purchased the newspaper in 1928 and retained control until bankruptcy in 2009. It grew from the Halifax Journal, which was started in 1883. The Daytona Beach News-Journal is a Florida daily newspaper serving Volusia and Flagler Counties. The Augfront page of The Daytona Beach News-Journal
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