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PITTSBURGH POST-GAZETTE TO BUY PITTSBURGH PRESS

 PITTSBURGH POST-GAZETTE TO BUY PITTSBURGH PRESS
 PITTSBURGH, Oct. 29 /PRNewswire/ -- Agreement to sell The Pittsburgh


Press Company to PG Publishing Company, publisher of The Pittsburgh Post-Gazette, was announced today by E.W. Scripps Company and the Post-Gazette.
 Terms of the agreement were not disclosed.
 William Block, chairman of Post-Gazette, described the agreement as an "important first step in getting newspapers back on the street. The city deserves first-rate metropolitan journalism and we are determined to do everything we can to see that it gets it as soon as possible," he said.
 The Press and Post-Gazette have shared business and production functions through a joint operating agreement since 1961. However, both dailies have been shut down since May 17, when the Teamsters Union called a strike to protest plans for a new delivery system.
 "The strike has been a catastrophe for everyone, readers, employees, and merchants -- the entire southwestern Pennsylvania community," Block said.
 Lawrence A. Leser, president and chief executive officer of E.W. Scripps, joined Block in praising the agreement. "This is the best possible outcome for the City of Pittsburgh and a great opportunity for the Block family to enhance its record of outstanding service to the community," Leser said.
 The sale is contingent on a number of conditions, most significant being regulatory approval and successful negotiations between the Post- Gazette and the Press Company's unions. If the Post-Gazette is unable to reach new contracts by Nov. 30, the agreement will expire.
 Scripps announced Oct. 2 that it intended to sell The Pittsburgh Press Company after nearly 70 years of ownership. In the six months ended March 31, The Pittsburgh Press had circulation of 209,000 daily and 556,000 on Sunday. The Post-Gazette had daily circulation of 154,000.
 In a concurrent announcement, The Pittsburgh Press Company today said it will close if the newspaper is not sold and E.W. Scripps ceases to fund the operation. Employees and elected officials have received a "60-day plant closing notice" in accordance with federal law, Scripps said.
 -0- 10/29/92 R
 /CONTACT: Woodene Merriman of the Pittsburgh Post-Gazette, 412-263-1524/ CO: Pittsburgh Post-Gazette; The Pittsburgh Press Company; E.W. Scripps
 Company ST: Pennsylvania IN: PUB SU: CON


CD-MS -- PG003 -- 6488 10/29/92 10:31 EST
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Publication:PR Newswire
Date:Oct 29, 1992
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