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New York Newsday heads for graveyard

Published on .

Ending months of speculation, Times Mirror Corp. said it will discontinue publishing its 10-year-old New York Newsday effective Monday. Mark H. Willes, who took over as the corporation's CEO on June 1 with a mandate to cut costs and improve profits, said, "We have concluded that in spite of its superb editorial content, New York Newsday's opportunites to earn an appropriate rate of return are limited." The company said the edition had a circulation of 216,000. Industry analysts estimate it lost more than $100 million in its decadelong run. No estimates were available at presstime on the number of employees that will be out of a job. The closing doesn't involve the main edition of the paper on Long Island. In May the Los Angeles-based company announced the Baltimore Evening Sun would be merged into the morning Sun as of Sept. 15.

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