
                         Roanoke Times
                 Copyright (c) 1995, Landmark Communications, Inc.

DATE: TUESDAY, March 5, 1991                   TAG: 9103050151
SECTION: BUSINESS                    PAGE: A-3   EDITION: METRO 
SOURCE: 
DATELINE: NEW YORK                                LENGTH: Short

DAILY NEWS SETS ITS FINAL DEADLINE

The Daily News plans to cease publication on March 15 unless a "binding agreement" to sell the tabloid is reached by that date, Publisher James Hoge announced Monday.

The newspaper's striking unions were being notified of the deadline that could mean a shutdown of the 71-year-old newspaper.

The publisher made no mention of the possibility of a sale to Robert Maxwell, the British media baron with whom the newspaper has been talking over the past few days. Maxwell's representatives in the United States reviewed the newspaper's books over the weekend and it was not known if the two sides were able to reach an agreement.

The crippling strike against the News began Oct. 25.

News officials said the paper lost $114.5 million in 1990, including $69.3 million in the last quarter. The paper also lost a significant chunk of circulation, dropping from 1.09 million to what the paper says is now 600,000.

The Chicago-based Tribune Co., owner of the News, wants "management rights" clauses in any new contracts to allow it to control staffing levels and set work rules. Union officials regard the demand as tantamount to union busting. - Associated Press

by CNB