TIMES MIRROR HAS OPTION TO BUY LA DAILY NEWS

Posted Thursday, May 18, 2000 12:00 am

By: put in LA Times Reports On Possible Purchase Of Rival

The Los Angeles Times reports today that its parent, Times Mirror Co., has an option to
purchase crosstown rival Daily News.

The option is part of a $50 million loan made by Times Mirror to Garden State Newspapers,
which owns the Daily News. Garden State is an affiliate of MediaNews Group Inc. of Denver.

MediaNews CEO Dean Singleton told the L.A. Times that the option would never be exercised.

A Times Mirror spokesperson said the government would have to approve the option. Times
Mirror is itself being acquired by Tribune Co. of Chicago.

Staff reports

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TIMES MIRROR HAS OPTION TO BUY LA DAILY NEWS

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