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SEARCH FOR QUALIFIED BUYER CONTINUES; PENINSULA TIMES TRIBUNE ISSUES W.A.R.N. NOTICES TO EMPLOYEES

 PALO ALTO, Calif., Feb. 12 /PRNewswire/ -- Efforts to find a qualified buyer for the Peninsula Times Tribune in Palo Alto are continuing, said publisher Robert E. Wood at an employee meeting held today. Wood also informed employees that, if a buyer cannot be found, the prospect exists that the paper could be shut down. Accordingly, Wood issued a standard legal notice pursuant to the federal plant closing law.
 Wood announced that individual meetings will be held in early March so that employees can review their benefits with company representatives.
 "Our primary objective is to find a qualified buyer," he said. He thanked employees for their continued dedication and professionalism. Tribune Newspaper Company announced on Nov. 2, 1992, its intention to offer the newspaper for sale.
 The Peninsula Times Tribune is an afternoon daily publishing seven days a week. Its primary market area includes 10 communities on the California Peninsula, south of San Francisco. Circulation is approximately 40,000.
 Included in the assets are Peninsula Community Newspapers, nine weekly newspapers serving more than 200,000 households.
 Tribune Newspaper Company publishes six other daily newspapers and syndicates information and marketing services. It is a wholly owned subsidiary of Tribune Company (NYSE: TRB), a leading provider of information and entertainment. Tribune also owns seven television stations, six radio stations, and produces and syndicates information and entertainment.
 -0- 2/12/93R
 /CONTACT: Ruthellyn Musil (media), 312-222-3787, or home, 708-559-0852; or Joseph Andrew Hays (investors), 312-222-3237, or home, 312-943-8244, both of Tribune Company/
 (TRB)


CO: Tribune Newspaper Company ST: California IN: PUB SU:

GK -- NY034R -- 6331 02/12/93 17:41 EST
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Publication:PR Newswire
Date:Feb 12, 1993
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