Gannett and The New York Times Co. terminate their discussions concerning Gannett's purchase of The Daily Commercial in Leesburg, Fla

Business Wire, June 20, 1995

ARLINGTON, Va.--(BUSINESS WIRE)--June 20, 1995--Gannett Co., Inc. and The New York Times Company have terminated their discussions concerning Gannett's purchase of The Daily Commercial in Leesburg, Fla.

The companies were unable to reach an agreement concerning the terms of the newspaper's sale.

Gannett had announced May 8 an agreement in principle to purchase the newspaper, which has been owned by The New York Times Company since 1971.

Gannett is a nationwide news and information company that publishes 82 daily newspapers, including USA TODAY, and USA WEEKEND, a newspaper magazine. Gannett also operates 10 television stations, 11 radio stations and the largest outdoor advertising company in North America.

CONTACT: Gannett Co. Inc., Arlington

Mimi Feller, Office: (703) 284-6046

Home: (202) 363-4335

or

Sheila Gibbons, Office: (703) 284-6048

Home: (301) 445-3231