Tribune: 'no sale' of the News

The New York Daily News has long called itself ''New York's Picture Newspaper.'' Now the picture for the newspaper has turned brighter, reports Monitor correspondent Ron Scherer.

After four months of trying to sell the News, the Tribune Company, its Chicago-based publisher, decided to keep publishing the newspaper itself. The Tribune stiffly rebuffed an offer from New York Post publisher Rupert Murdoch and announced it will begin negotiations in 10 days with its own unions seeking contract concessions to keep the presses running.

Mr. Murdoch told the Tribune Company on April 29th he would sign a letter of intent to buy the News under the same terms set forth by Joe L. Albritton, publisher of Albritton Communications Co. However, the Tribune Co. termed Murdoch's offer ''patently illusory,'' noting that there were antitrust complications.

Talks between Mr. Albritton and the eleven unions ended last Wednesday without the $70 million in contract concessions - including the surrender of 1, 600 jobs - Albritton sought. Although the Tribune Company refused to say what size concessions it expected from the unions, sources indicated it would be in the $30 million range. The News has stated that based on its current estimates, the loss for this year would be ''substantially above'' the 1981 loss of $12 million. Whatever job concessions the News wins from its employees will have major implications for the other New York newspapers, who will no doubt ask their own employees for similiar concessions.

The News has a daily circulation of 1.54 million and a Sunday circulation of over 2 million.

You've read  of  free articles. Subscribe to continue.
QR Code to Tribune: 'no sale' of the News
Read this article in
QR Code to Subscription page
Start your subscription today