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Champion Reduces Staff 15%

Press release from the issuing company

HUNTINGTON, W.Va -- Champion Industries, Inc. today announced that its wholly owned subsidiary, Champion Publishing, Inc., which publishes The Herald-Dispatch daily newspaper in Huntington, West Virginia, has eliminated 24 employee positions. These reductions represent a reduction of approximately 15% of the work force of the publishing subsidiary. This reduction represents the same percentage as the Lexington Herald-Leader announced previously this year.

Marshall T. Reynolds, Chairman of the Board and Chief Executive Officer of Champion, said "This restructuring is responsive to the overall national economic situation and its impact on the newspaper industry as a whole, as well as our internal evaluation of efficiencies we had identified as part of our acquisition of the newspaper.