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EXHIBIT 99
[PULITZER LOGO]
FOR IMMEDIATE RELEASE
PULITZER INC. COMPLETES ACQUISITION OF
SUBURBAN JOURNALS OF GREATER ST. LOUIS
ST. LOUIS, August 10, 2000 -- Pulitzer Inc. (NYSE:PTZ) announced today
that it has completed the acquisition of the Suburban Journals of Greater
St. Louis from the Journal Register Company (NYSE:JRC). The purchase, which
includes 38 weekly papers, the Ladue News and various niche publications
serving the St. Louis metropolitan area, was announced on June 26, 2000.
"We are pleased that we were able to complete this acquisition quickly,
and we can now get about the business of making the Suburban Journals even
better community newspapers," said Robert C. Woodworth, president and chief
executive officer. "Pulitzer is committed to enhancing the Suburban Journals'
already strong coverage of local community news. We believe that making these
papers more compelling for readers will also make them more attractive to
advertisers."
The purchase price for the Suburban Journals is $165 million, which brings
Pulitzer's recent investment in the St. Louis area to $471 million. "This
transaction, together with the agreement we announced in May to increase our
interest in the results of the operations of the St. Louis Post-Dispatch,
clearly demonstrate our commitment to and belief in the future of the St. Louis
area, home of our corporate headquarters," Woodworth said. "Pulitzer began in
St. Louis which has long been one of our primary markets, and these
transactions strengthen that connection."
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Pulitzer Suburban Journal closing
Woodworth noted that Pulitzer plans to operate the Suburban Journals and
the St. Louis Post-Dispatch as independent organizations, each with its own
editorial voice and specific areas of focus. "We strongly believe that
maintaining the independence of the two properties is in the best interests of
Pulitzer and the community," he said.
Pulitzer Inc. is engaged in newspaper publishing and related new media
activities. The Company's newspaper operations include two major metropolitan
dailies, the St. Louis Post-Dispatch and the Arizona Daily Star in Tucson,
Arizona, and 12 other dailies: The Pantagraph, Bloomington, Ill.; The Daily
Herald, Provo, Utah; the Santa Maria Times, Santa Maria, Calif.; The Napa Valley
Register, Napa, Calif.; The World, Coos Bay, Ore.; The Hanford Sentinel,
Hanford, Calif.; the Arizona Daily Sun, Flagstaff, Ariz.; the Troy Daily News,
Troy, Ohio; The Daily Chronicle, DeKalb, Ill.; The Garden Island, Lihue,
Hawaii; the Daily Journal, Park Hills, Mo.; and The Daily News, Rhinelander,
Wisc.
Pulitzer Inc. also engages in a variety of new media and interactive
initiatives, including Web sites related to the newspapers in St. Louis and
Tucson and a number of its other dailies. Pulitzer Inc. is the successor to the
company originally founded by Joseph Pulitzer in St. Louis in 1878.
For further information, contact James V. Maloney, director of shareholder
relations, Pulitzer Inc. at (314) 340-8402.
