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TULSA WORLD AND THE TULSA TRIBUNE TO END 50 YEAR JOINT OPERATING AGREEMENT

 TULSA WORLD AND THE TULSA TRIBUNE
 TO END 50 YEAR JOINT OPERATING AGREEMENT
 TULSA, Okla., July 31 /PRNewswire/ -- World Publishing Co. and


Tulsa Tribune Co., publishers of the Tulsa World and The Tulsa Tribune,

respectively, today announced that they have agreed n the method

and terms of ending their Joint Operating Agreement ("JOA") under

which the two newspapers have been operating since 1941.
 The JOA, under which each newspaper maintains separate editorial and


news functions but combines business functions, such as printing,

distribution and advertising sales, is specifically permitted under

federal law pursuant to the Newspaper Preservation Act ("NPA"). Under

the NPA, amendments must be filed with the Justice Department. The

effectiveness of the agreement is subject to approval by the Board of

Directors of T/SF Communications.
 The announcement of the agreement was made jointly by G. Douglas


Fox, Chairman of Tulsa Tribune Co. and chairman and chief executive

officer of T/SF Communications Corp., and Robert E. Lorton, President of

World Publishing Company. In making the announcement, Messrs. Fox and

Lorton noted that the number of towns which can support two competing

daily papers continues to shrink as new media claim an ever-increasing

share of advertising dollars from traditional mass media, such as

newspapers. Because of the erosion of evening newspaper readership in

recent years, The Tribune remains the only large-city evening paper in

the American Midwest between the Canadian border and Houston. Evening

papers have ceased publication in Minneapolis, St. Paul, Minn.; Des

Moines, Iowa; Omaha, Neb.; Kansas City, Denver, Chicago, St. Louis,

Memphis, Oklahoma City, Dallas, Little Rock, Ark.; Shreveport, La., and

New Orleans. Also, joint operating arrangements under the NPA have

recently been terminated in Shreveport, Miami and Knoxville, Tenn.
 The Tulsa Tribune plans to cease its separate publication on


Sept. 30, 1992, and the JOA will terminate under the Agreement. As a

result of the termination of the agreement, Tulsa Tribune Co. will

immediately receive $11,500,000 from World Publishing Co. The World

will also pay Tribune $450,000 each month for 41 months beginning

November, 1992. In addition, the JOA will be dissolved and the net

proceeds distributed 40 percent to Tribune and 60 percent to World. As

part of this transaction, Tribune will transfer to World its interest in

its presses and other newspaper related assets. The JOA was

scheduled to terminate on March 31, 1996, pursuant to a notice of

termination delivered today by World to Tribune as allowed by the

JOA.
 Jenk Jones Jr., editor and publisher of The Tulsa Tribune, stated:


"Since the JOA would not be extended, the resultant agreement to

terminate the publication of The Tribune makes economic sense.

Unfortunately, it will cost Tulsa newspaper readers the variety of

opinions, observations and stories that competitive journalism provides.

And it deprives them of the work of the top award-winning writers,

photographers and editors. We are deeply saddened for the sake of our

remarkably talented staff and for the impact upon the city."
 Jenkin Lloyd Jones, publisher emeritus of The Tribune, added: "We,


the editors, are proud that because of the work and dedication of our

staff, the loss of Tribune circulation was substantially less than the

loss of subscribers in the other major evening newspapers of mid-America

that have ceased publication. As one who has been on the payroll for 59

years, I salute our people. And this includes the sub-editors and desk

personnel who operate out of the public eye but are essential to

a quality publication."
 Robert E. Lorton, president of World Publishing Co. and publisher of


the Tulsa World, stated: "This is not a day of celebration. All of us

at the World join in mourning the loss of the news and editorial voice

of The Tulsa Tribune. The Tribune and the Lloyd Jones family have

contributed much to our city. Unfortunately, economic reality must

override sentiment and, on that basis, this transaction is clearly in

the best interest of both parties. We at the Tulsa World are mindful of

the responsibility this puts on us to continue to provide the high

quality of journalism and the diversity of thought that both the

World and Tribune have brought to Tulsa."
 Fox said, "When it became clear that the JOA would end in 1996, it


was incumbent upon us to face the future realistically. For us to

continue in the partnership arrangement would have been akin to a couple

agreeing to live together for 3 1/2 years after deciding to get a

divorce. Other realities that we had to face were that maintaining a

quality staff and quality product would have been increasingly

difficult. Importantly, we also have a responsibility to maximize value

for the benefit of our stockholders. This transaction allows us to be

fair with those most hurt by this agreement - the newsroom and editorial

staff of The Tribune - and have the economic wherewithal to continue to

build our company for success in the future."
 Howard G. Barnett, Jr., president of Tulsa Tribune Co., explained


that, although The Tribune, because of its high quality had fared better

than most afternoon newspapers in fighting trends toward morning and

Sunday readership and the general decline of newspaper readers, it

nevertheless was affected by those trends. Barnett stated, "Any evening

daily newspaper without a Sunday edition competing with a morning daily

paper faces extreme difficulties as a separate operation in today's

highly competitive media environment. While the loss of The Tribune

cannot truly be measured in dollars, this agreement is fair to both

parties and we know that Tulsa will be well served by the even stronger

Tulsa World which will exist after this agreement is effective."
 Ken Fleming, General Manager of Newspaper Printing Corp., the


business agent for Tribune and World under the JOA, noted the Tribune

subscriptions would be honored by delivering the Tulsa World to Tribune

subscribers after the agreement was effective. Fleming added, "In this

way, we will also be able to meet our commitment to our advertisers to

deliver for them the readers jointly served by Tribune and World.

Unlike a termination under the existing JOA, this agreement will

allow us to have an orderly transition for both readers and

advertisers so that the World and Newspaper Printing Corp. can continue

to serve their needs without interruption or loss to them."
 Tulsa Tribune Co. is a wholly owned subsidiary of T/SF


Communications Corp. (AMEX: TCM); T/SF Communications, in turn, is a

72 percent owned subsidiary of tribune/Swab-Fox Cos. Inc.
 -0- 7/31/92
 /CONTACT: G. Douglas Fox of T/SF Communications, 918-747-2600/
 (TCM)


CO: T/SF Communications

ST: Oklahoma

IN: PUB

SU:

RM -- SF005 -- 5639 07/31/92 13:33 EDT
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No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

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