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Article: New York Daily News announces tentative decision to close or sell.
- Article from:
- PR Newswire
- Article date:
- January 16, 1991
CopyrightCOPYRIGHT 1991 PR Newswire Association LLC. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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DAILY NEWS ANNOUNCES TENTATIVE DECISION TO CLOSE OR SELL
NEW YORK, Jan. 16 /PRNewswire/ -- James Hoge, publisher of the New York Daily News, today announced a tentative decision to cease publication and permanently close the newspaper unless the long-term viability and profitability of the newspaper can be assured. He also stated that the company would consider the possible sale of the newspaper as an alternative to closing.
Hoge said that the decision was based on a number of considerations, including chronic losses at the newspaper exceeding $200 million over the last decade; economic and competitive conditions; the failure to achieve contract ...
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