Ultimatum At The Daily New Sr
Management may finally be ready to concede defeat in the labor showdown at Tribune Co.'s New York Daily News. On Jan. 16, Tribune announced that it would permanently close or sell the News unless "the long-term viability and profitability of the newspaper can be assured." That seems unlikely, given the sometimes violent three-month walkout and the paper's shrunken circulation and ad pages.
Shuttering the News would be painful for Tribune. It already expects red ink from the paper to cause a 1990 fourth-quarter net loss at the parent company, compared with year-earlier net income of $67.6 million. A shutdown or sale could cost up to $100 million or more. But after $200 million in Daily News losses in the past decade, Tribune seems ready to give up.
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