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ALAMEDA NEWSPAPER GROUP ANNOUNCES PURCHASE OF THE OAKLAND TRIBUNE ASSETS

 ALAMEDA NEWSPAPER GROUP ANNOUNCES
 PURCHASE OF THE OAKLAND TRIBUNE ASSETS
 HAYWARD, Calif., Oct. 15 /PRNewswire/ -- Alameda Newspaper Group of Hayward announced today that it has reached an agreement to buy the name, circulation list and certain other assets from the Oakland Tribune for an undisclosed sum.
 In addition, as part of the transaction, Alameda Newspaper Group (ANG) will reimburse The Freedom Forum for its investment in the Oakland Tribune.
 As an integral part of the transaction, ANG and The Freedom Forum will jointly establish a minority training program for minority journalists in the newsroom of the new Oakland Tribune.
 Current owners of the Oakland Tribune will continue to publish the newspaper through Nov. 30; ANG will begin publishing the new Oakland Tribune on the following day, Dec. 1.
 Announcement of the transaction was made by Robert C. Maynard, president and publisher of the Oakland Tribune and owner for almost a decade, and Meath.
 "It is an exciting prospect to be part of the evolution of the Oakland Tribune," said J. Allan Meath, president and CEO of the Hayward-based Alameda Newspaper Group.
 "We are absolutely confident that the new Oakland Tribune will prosper and grow," Meath said. "We expect to be an important part of the vibrant communities that comprise Oakland and environs. We want to be a good, solid local newspaper that is a friend to the people it serves."
 "Today's announcement assures the people of Oakland that an Oakland Tribune will continue," said Maynard. "In an age when daily newspapers are disappearing from the American landscape," Maynard continued, "we are proud that this title will remain."
 Assets to be purchased will include the trademark and the use of the Oakland Tribune name, the newspaper circulation of more than 100,000 and its advertising accounts. Only a few physical assets will be acquired. ANG will not purchase the Oakland Tribune Tower, equipment or other publishing assets.
 "The Oakland Tribune is a great newspaper located in a very important part of the East Bay," said William Dean Singleton, vice chairman, CEO and president of Garden State Newspaper Group, the parent of Alameda Newspaper Group.
 "However, it has become painfully obvious to the Maynards and others that the market cannot support the weight of the newspaper's operation unless production, overhead and other costs are shared with other publications," Singleton continued. "Since Oakland is the county seat of Alameda County, it is clear to us that the Oakland Tribune should become part of ANG."
 ANG will house editorial, advertising and circulation offices for the new Oakland Tribune in new facilities in Oakland. Production, accounting and administration will be combined into ANG's Hayward operations. ANG's production facilities will be expanded to add capacity for future growth.
 ANG management will immediately begin interviewing and hiring staff to facilitate publication of the new Oakland Tribune. ANG expects the new Oakland Tribune to employ 250 people. The company will interview current Oakland Tribune employees, as well as other applicants for positions.
 Agents for ANG will soon begin interviewing current Oakland Tribune carriers for delivery routes to deliver the new Oakland Tribune to its more than 100,000 customers.
 Current Oakland Tribune management will immediately begin negotiating the effects of its business termination with its employees.
 The closing of the transaction is subject to review by the U.S. Justice Department.
 -0- 10/15/92 R
 /CONTACT: Deborah Byrum of the Alameda Newspaper Group, 510-932-6050/ CO: Alameda Newspaper Group; Oakland Tribune ST: California IN: PUB SU: TNM


SG-TM -- SF011 -- 0586 10/15/92 15:58 EDT
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Date:Oct 15, 1992
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