Tuesday, March 17, 2009

'Citizen' Gets a Reprieve

Posted By on Tue, Mar 17, 2009 at 4:43 PM

We've gotten word from sources at TNI that the Citizen will live on--at least for now.

More details to come.

Update: The Citizen has a story on its Web site about the "day-to-day" reprieve.

(Interim editor Jennifer) Boice told employees that (Gannett honcho) Dickey said negotiations are ongoing with two "very interested buyers" and those negotiations would not be completed by March 21, the date Gannett had set to close the Citizen should a buyer not come forward by March 17.

We can piece some things together here: Gannett previously announced that a deadline for offers had come and gone without anything meaningful. Then came word that the U.S. Justice Department was peeved at Gannett for not making all that much of an effort to sell the afternoon daily--with specific unhappiness about Gannett's demands that any would-be buyers promise to keep the paper going in print at least three times per week.

Well, after the DOJ crackdown--during which Gannett's broker had to touch base with everyone he'd contacted previously--apparently, lo and behold, Gannett found some serious would-be buyers after all.

What this all means remains to be seen.

More to come as things develop.

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