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GWINNETT (GA.) DAILY NEWS TO PRINT FINAL EDITION SUNDAY

 GWINNETT (GA.) DAILY NEWS TO PRINT FINAL EDITION SUNDAY
 NEW YORK, Sept. 5 /PRNewswire/ -- The Daily News, a newspaper in Gwinnett County, Ga., will publish its last issue and suspend operations on Sunday, Sept. 6, it was announced today by The New York Times Company, owner of the newspaper.
 The printing facilities and other assets of The Daily News are being acquired by Cox Enterprises, Inc., publisher of The Atlanta Journal and Constitution. The transaction, announced on Aug. 24, has been reviewed by the Justice Department.
 Times Company officials will be assisting the paper's 290 employees with professional counseling to help them seek new jobs. Some employees have accepted transfers to other Times Company newspapers. To facilitate such transfers, the company for several months has been holding open a number of positions at its Regional Newspaper Group, publisher of 31 other newspapers in 11 states, mostly in the Southeast.
 All employees as of Sept. 6 who are not retained in other positions with the company will receive pay and benefits for an additional seven weeks, through Oct. 26. In addition, employees who are not placed in comparable jobs with the company or Cox Enterprises will receive two weeks severance pay for each year of service with the Times Company, plus a bonus of three weeks pay for each year with the company for staying until the closing date. Employees who have not worked for the paper a full year will still get the three-weeks bonus.
 The Gwinnett Daily News was established in 1965 from a small weekly that was converted to a daily. The Times Company acquired the paper in July 1987 and moved it to a new color printing facility in 1990. Despite these and other investments -- and an increase in circulation by almost twofold since 1987, to more than 50,000 copies on weekdays and 44,000 copies on Sundays -- the newspaper lost money each year since its acquisition.
 The Times Company had acquired the paper at a time when Gwinnett County was among the fastest growing in the nation. Readers were enthusiastic, but advertising revenues lagged as the national and local economies were hit by the recession. At the same time, competition for advertising dollars in Gwinnett County intensified. The net effect was that the paper was unable to build sufficient advertising revenues to be profitable.
 After reviewing many strategies and concluding that it would not be able to publish The Daily News profitably, the company engaged a newspaper broker, Dirks, Van Essen & Associates, which contacted more than 40 potential purchasers for The Daily News, including all of America's leading newspaper publishing companies. The company's search failed to attract any bidders who expressed interest in keeping the newspaper open.
 The company publishes two other Georgia newspapers, The Winder News, a weekly, and the twice-weekly Forsyth County News, which were not included in the transaction with Cox Enterprises.
 The New York Time Company, a diversified communications company with 1991 revenues of $1.7 billion, operates newspapers, magazines, broadcast stations and information services. The company also has minority equity interests in three forest products companies.
 -0- 9/5/92
 /CONTACT: Nancy Nielsen, 212-556-7078, or William Adler, 212-556-7077, both of The New York Times Company/ CO: The New York Times Company; The Daily News; Cox Enterprises,
 Inc. ST: New York, Georgia IN: PUB SU:


CC -- NYON2 -- 7202 09/05/92 07:57 EDT
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Date:Sep 5, 1992
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