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PITTSBURGH PRESS, POST-GAZETTE CLOSE DEAL

 CINCINNATI, Dec 31 /PRNewswire/ -- The Pittsburgh Press Company, a subsidiary of The E.W. Scripps Company (NYSE: SSP) since 1923, today completed the sale of its newspaper assets to the Pittsburgh Post-Gazette.
 The remaining obstacle to the transfer of ownership was removed yesterday when the United States Department of Justice approved the sale.
 The Press and Post-Gazette have not been published since May 17 when delivery drivers, represented by the Teamsters union, walked off the job to protest changes in the distribution system.
 On Nov. 30, the Post-Gazette signed new agreements with the Teamsters and all of the Press Company's unions, clearing the way for its purchase of the Press and resumption of daily newspaper production.
 In exchange for the assets of The Press Company, Scripps will receive cash, The Monterey County Herald, a northern California newspaper, and preferred stock in the new company that will operate the Post-Gazette. Total value of the transaction has not been disclosed.
 Circulation of The Herald is 38,200 daily; 39,700 on Sunday.
 Prior to today's sale, The Press and Post-Gazette had shared business and production functions through a 31-year-old joint operating agreement. The Post-Gazette had daily circulation of 154,000 in the six month ended March 31, 1992. In that same period, The Press had daily circulation of 209,000; 556,000 on Sunday.
 -0- 12/31/92
 /CONTACT: Rich Boehne of The E.W. Scripps Company, 513-977-3826/
 (SSP)


CO: The E.W. Scripps Company ST: Ohio IN: PUB SU:

268 12-31-92 16:49 EST LC -- CL011 -- 1048 12/31/92 19:28 EST
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Publication:PR Newswire
Date:Dec 31, 1992
Words:262
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