NY TIMES TO SELL SMALLER PAPERS

By: Staff reports

Regional Newspaper Group Downsizes



The New York Times Co. announced today plans to sell four smaller dailies,
three non-dailies, and all nine telephone directories in an effort to
streamline the Regional Newspaper Group.


The properties being sold made up $52.7 million, or 2%, of the company’s
1999 revenues.


‘We believe our shareholders will be better served by focusing our regional
newspaper efforts on larger newspapers, such as the Worcester [Mass.]
Telegram & Gazette , which we acquired last month,’ said Russell T. Lewis,
president and CEO.



The newspapers being sold include the Santa Barbara (Calif.) News-Press,
with a paid circulation of 44,869; The Daily World in Opelousas, La.,
circulation 12,169; Palatka (Fla.) Daily News , circulation 11,534; and
Lake City (Fla.) Reporter , circulation 9,668. (All circulation figures are
from ABC Fas-Fax, Sept. 30, 1999.)



The three non-dailies, based in Florida, are The News-Sun in Sebring,
circulation 11,625; The News-Leader in Fernandina Beach, circulation 10,068;
and the Marco Island Eagle , circulation 11,010 (ABC, March 31, 1999).



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Staff reports









(c) Copyright 2000, Editor & Publisher

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