Philadelphia Bulletin looking for a buyer

Owners of the financially foundering Philadelphia Bulletin announced they are trying to sell the newspaper to keep it from folding.

J. P. Smith, president of the Charter Company subsidiary that owns the Bulletin, said Charter has decided not to keep pouring in the capital necessary to keep the paper going.

He said that no time limit has been set to find a buyer for the newspaper but that the company is in discussion with and unnamed party.