Central Newspapers to acquire Alexandria (Louisiana) Daily Town Talk.

INDIANAPOLIS--(BUSINESS WIRE)--Jan. 10, 1996--Central Newspapers, Inc. has agreed to acquire McCormick & Company, Inc., the parent company of the Alexandria Daily Town Talk newspaper of Louisiana, and McCormick Graphics, Inc., a commercial printing subsidiary, Louis A. Weil III, president and chief executive officer of Central Newspapers, announced today.

The Town Talk newspaper has a circulation of 40,400 daily and 41,300 Sundays. The acquisition is expected to be completed in the first quarter of 1996. The purchase price will be for $62 million in cash and is expected to result in an earnings dilution in the first year of less than 10 cents per share.

The Alexandria Daily Town Talk has been owned by the families of its original founders since it first began publishing on St. Patrick's day in 1883. Its market primarily covers seven parishes in Louisiana with a population of over 400,000.

Mr. Weil, who assumed his current position as president and CEO of Central Newspapers on January 1, 1996, said, "Under the leadership of Joe D. Smith, Jr., who became publisher and general manager of the Town Talk in 1962, the newspaper has become one of the premier medium-sized dailies in the South. It fits with our goal of acquiring newspaper properties with a strong position in their market area and a proven history of journalistic integrity."

Central Newspapers is the 15th largest U.S. newspaper company, in terms of circulation. It publishes daily, Sunday and weekly newspapers in metropolitan Phoenix, Arizona and Indianapolis, Indiana, as well as smaller Indiana communities. It has revenues of over $500 million.

CONTACT: ARTHUR SCHMIDT & ASSOCIATES, INC.

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