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Gannett offers to sell assets of the Tucson Paper

Tuesday, January 20, 2009

Press release from the issuing company

 McLEAN, VA – Gannett Co., Inc. today said it is offering to sell certain assets of the Tucson (AZ) Citizen. If a sale is not completed by March 21, 2009, Gannett said it will have to close the newspaper.

“The Tucson Citizen has been part of Gannett since 1976 and we deeply regret having to take this step. But dramatic changes in our industry combined with the difficult economy – particularly in this region – mean it is no longer viable for our partnership with Lee Enterprises Incorporated to produce two daily newspapers in Tucson,” said Bob Dickey, president of the U.S. Community Publishing division of Gannett. “We applaud the hard work and ongoing efforts of our employees at the newspaper. Their dedication to journalism and to the community of Tucson deserves the highest praise. We hope for a quick and positive response to this offer.”

The Tucson Citizen is an afternoon newspaper that publishes Monday through Saturday. It is one of the two newspapers produced by TNI Partners as part of a joint operating arrangement (JOA) under the Newspaper Preservation Act. The Arizona Daily Star, which is owned by a subsidiary of Lee Enterprises Incorporated, is the second newspaper in the JOA. TNI Partners provides the production, distribution, sales and other non-editorial business functions for both the Citizen and The Star.

Each newspaper maintains a separate newsroom and the editorial operations of the newspapers are entirely independent. Average daily circulation of the Citizen is 19,851, according to the latest Audit Bureaus of Circulation report. Founded in 1870, the Tucson Citizen has been part of a JOA since 1940.

Offers should be directed to Robert J. Broadwater, managing director of Broadwater & Associates LLC, at (914) 961-5700 or broadwater@broadwaterllc.com.




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