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PULITZER PUBLISHING COMPANY ANNOUNCES TENTATIVE DECISION TO CLOSE LERNER NEWSPAPERS

 PULITZER PUBLISHING COMPANY ANNOUNCES
 TENTATIVE DECISION TO CLOSE LERNER NEWSPAPERS
 ST. LOUIS, Aug. 5 /PRNewswire/ -- Pulitzer Publishing Company (NASDAQ-NMS: PLTZ) today announced a tentative decision to close down Lerner Newspapers' group of community newspapers in the Chicago area.
 Pulitzer said its action is the result of the erosion of the community newspapers' advertising base over the past several years as the recession has dampened demand in its markets.
 Pulitzer took a $3.9 million charge for the write-down of Lerner's goodwill and other intangible assets last December. The closing would not have a material effect on Pulitzer's consolidated net earnings in 1992, the company said.
 The company said it anticipates the newspapers will cease operations in early October.
 The closing, if it takes place, is expected to eliminate approximately 150 jobs. Lerner operates 14 weekly community newspapers, primarily in northern Chicago and adjacent suburbs.
 Pulitzer said it will continue publication of the Market Journal, a shopper serving the Lake County area.
 In the Chicago area, Pulitzer also owns the Southtown Economist, a daily, and the Marketer, a weekly shopper, both of which principally serve the southwestern Chicago suburbs, and a commercial printing business.
 For further information, contact James V. Maloney, director of shareholder relations, Pulitzer Publishing Company, at 314-340-8000.
 -0- 8/5/92
 /CONTACT: James V. Maloney, director of shareholder relations of Pulitzer Publishing Company, 314-340-8000/
 (PLTZ) CO: Pulitzer Publishing Company; Lerner Newspapers ST: Missouri, Illinois IN: PUB SU:


TM -- NY080 -- 7256 08/05/92 16:23 EDT
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Publication:PR Newswire
Date:Aug 5, 1992
Words:248
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