Article: The Tribune Co. to acquire the Daily Press Inc. of Virginia.

NEWPORT NEWS, Va., July 14 /PRNewswire/ -- Agreement has been reached for Tribune Co. to acquire the Daily Press Inc., publisher of the Daily Press and the Times-Herald in Newport News, Va., for $200 million.

The announcement was made by the two companies and representatives of the Bottom and Van Buren families, which own the controlling interest in the Daily Press.

The two newspapers serve the Virginia Peninsula region with total circulation of 104,000 daily and 112,000 Sunday. The transaction also includes two cable television systems owned by the Daily Press, located in Newport News and Danville, Va., serving 60,000 subscribers.

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