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THE SEATTLE TIMES REACHES AGREEMENT TO BUY THE YAKIMA HERALD-REPUBLIC

THE SEATTLE TIMES REACHES AGREEMENT TO BUY THE YAKIMA HERALD-REPUBLIC
 SEATTLE, Dec. 16 /PRNewswire/ -- The Seattle Times Co. has reached an agreement in principle to purchase the Yakima Herald-Republic from Garden State Newspapers Inc., H. Mason Sizemore, Times president, announced today.
 The agreement calls for the purchase to be completed by Dec. 31.
 Purchase price was not announced. Both The Seattle Times Co. and Garden State Newspapers are privately owned.
 The Yakima Herald-Republic is the leading newspaper in Central Washington. Its circulation is more than 40,000 daily and more than 43,000 Sunday.
 "The Seattle Times Co. has been in the market to purchase a well- run Northwest daily newspaper for many years. We are delighted to have the opportunity to own the Yakima Herald-Republic," Sizemore said.
 Garden State Newspapers, based in Houston, publishes daily and weekly newspapers in several states. The Seattle Times Co., in addition to The Seattle Times, owns the Walla Walla Union-Bulletin and several weeklies in Washington state.
 "While we had no intentions of selling the Herald-Republic, and we were not seeking a buyer, we accepted the unsolicited offer from The Seattle Times Co. because it was an attractive financial package for us, and it offered a superb strategic fit for The Seattle Times Co. and the Herald-Republic," said William Dean Singleton, vice chairman and chief executive officer of Garden State. "We know that our newspaper and its very able staff will be in excellent hands in the years ahead."
 Singleton said proceeds from the sale will be used for general corporate purposes, including reduction of long-term debt and additional acquisitions.
 -0- 12/16/91
 /CONTACT: H. Mason Sizemore of The Seattle Times Co., 206-464-2329/ CO: The Seattle Times Co.; Garden State Newspapers Inc.; Yakima
 Herald-Republic ST: Washington IN: PUB SU: TNM


JH-LM -- SE010 -- 2546 12/16/91 13:11 EST
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Publication:PR Newswire
Date:Dec 16, 1991
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