Quote of the Day

“This
was a very difficult decision to make. We have never sold a newspaper, from my father’s time to my time.”

Donald Newhouse, president of Advance Publications and son of S.I.Newhouse, who founded the media empire, commenting on the Newhouse family decision to sell their two largest New Jersey newspapers unless the unions accept significant cuts and cost-reductions. (The Newark Star Ledger is expected to lose between $30 and $40 MM this year, according to todays WSJ article.)

(Via Peter Levitan)