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[CITY Edition]
Newsday - Long Island, N.Y.
Author: by Michael Fleming and Karen Freifeld
Date: Aug 31, 1989
Start Page: 11
Section: NEWS
Abstract (Document Summary)

Spanish Newspaper Sold to Publisher? The troubled El Diario-La Prensa, New York City's largest Spanish-language newspaper, apparently has been sold. Sources say newspaper publishing giant Gannett Inc. has sold El Diario to El Diario Associates, an investment group formed by publisher Carlos Ramirez, for between $12 million and $14 million. The deal is to be announced at a news conference this afternoon, sources said. "They are withholding any information until tomorrow," an El Diario staffer said yesterday. "We want to know more as much as you do." Staffers had hoped that the paper would be improved when Gannett acquired it for $10 million in 1980. But Gannett paid little attention to the daily, staffers say, leaving workers feeling like "stepchildren" of the newspaper chain. Circulation has since dropped to 68,979 from its 1985 high of 80,000, and the paper is not thought to have made money in the last two or three years. The drop in circulation apparently is unrelated to other problems at the paper. Editor [Manuel de Dios Unanue] was recently fired [CORRECTION: New York Newsday incorrectly reported that Manuel de Dios Unanue was fired as editor of El Diario. He resigned voluntarily in June and is now doing radio commentary on WJIT-AM. (9/1/89 2 C)! after repeated editorial clashes with Ramirez. And the Newspaper Guild, which represents El Diaro employees, has accused the paper of bad faith in current contract negotiations. Still, the paper is poised to make vast renovations, including the installation of a $1.2-million computer system. Eerie Re-creation

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