Mar 19, 2009 2:46 pm US/Central
Sun-Times Raises Newsstand Price To 75 Cents
CHICAGO (CBS) ―
Get another quarter ready before you head to the newsstand. Starting March 30 the Chicago Sun-Times will cost readers 75 cents for Monday through Saturday editions, according to the
Sun-Times Web site.
The Sunday paper will still be $1.50, and home delivery prices are not set to increase. None of the other Sun-Times Media Group newspapers will be affected.
The price hike was announced to employees in a memo Thursday. A letter to readers will be published in the paper next week.
"We will explain that we have held off on raising the price of the newspaper as long as we could. However, economic necessities, including the rising costs of production, have brought us to the point of increasing the paper's single-copy price. Many in our industry, including our competitors in this marketplace, have also raised their newsstand prices," Sun-Times Media Group Chairman of the Board and Interim CEO Jeremy Halbreich, President and COO Rick Surkamer and Sun-Times Publisher John Barron said in the memo.
Sun-Times Media Group owns the Chicago Sun-Times and dozens of suburban newspapers and Web sites that serve more than 200 communities in the Chicago area. The company has made recent cuts due to declining advertising revenue, including last month's closure of 12 weekly newspapers and asking union employees to take cuts in compensation.
The last single-copy price increase was five years ago, when the paper went from 35 to 50 cents.
The Chicago Tribune increased its newsstand price from 50 to 75 cents in January 2008.
(© MMIX, CBS Broadcasting Inc. All Rights Reserved.)
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