Press: Grim Bulletin

A paper struggles to save itself

The rumors began to circulate at the Philadelphia Bulletin last Monday morning. At 3 p.m., Publisher N.S. ("Buddy") Hayden stepped to a lectern that had been hastily propped on a reporter's desk.

Facing the staff members who jammed into the fourth-floor newsroom he said, "What I have to tell you is not pleasant."

The news: the financially ailing 134-year-old daily, which has lost $31.2 million since 1979—$10.3 million in the first half of this year—will publish its last edition on Aug. 16 unless the paper's eight unions agree to $5...

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