Mr. Woodworth: As you'll see, we're primarily a pure play newspaper company with robust Internet sites. The easiest way to think about our company is really four separate divisions. By far the largest is our publishing operation in St. Louis, which is primarily the St. Louis Post-Dispatch. Most recently we acquired the Suburban Journal Newspaper Company, which is a significant, three- times-a-week suburban newspaper group in St. Louis. Those combined entities really account for about 60% of our revenue, that is a major part of the company. The second significant piece is our operation in Tucson. We own the Arizona Daily Star, which is the morning and Sunday publication in Tucson, with morning circulation of about 100,000 and Sunday circulation of about 175,000. The third component is what we refer to as Pulitzer Newspapers, Inc., which is a collection of 12 dailies, as well as complementary weeklies and a number of markets around the country. But the PNI group's largest paper is Bloomington in Illinois, which is about 55,000 circulation. The smallest is in the 10,000 range. Most tend to be clustered in the 20,000 to 30,000 circulation range. We have some very good markets within that group, most notably Provo, Utah; Napa, California; Flagstaff, Arizona; and Santa Maria, California. So, it's a rather disparate group with relatively smaller papers. The fourth leg is our Internet activity, and at virtually all of our newspaper sites we have robust Internet portals. The URL for our St. Louis operation is postnet.com, and it is the leading regional portal for information and entertainment guidance for the St. Louis market. We have basically the same regional portal strategy in Tucson, where our portal is named StarNet under the URL of azstarnet.com. But these are very active sites. According to the last available information, page views on postnet were about 14,000,000 ' and our net reach in the market among Internet users was about 22%. We're getting significant traction, particularly in St. Louis and Tucson, but it's also very important in other parts of our company. A very brief history of the company. We're a public New York Stock Exchange traded company. But we are very significantly controlled by members of the Pulitzer family, who are the heirs of the original Joseph Pulitzer. Until recently, Pulitzer had been a newspaper and broadcast company. However, a decision was made several years ago to dispose of the broadcast assets, which were primarily television. That transaction was finalized in March of 1999, when our broadcasting properties were sold to Hearst-Argyle. Post March, 1999 we became a pure play newspaper and Internet company. At the same time there was a decision made to seek another senior manager. Michael Pulitzer began talking to me about joining the company as CEO. And I joined the company in January of 1999. In the most recent past, prior to joining Pulitzer, I was a senior executive with Knight Ridder Newspaper Company. Prior to that, I spent virtually my whole career on the newspaper side with Capital Cities, primarily in Fort Worth and at the Kansas City Star. Of course that company was acquired by the Walt Disney Company, so I worked with Walt Disney for a couple of years. But essentially, I've been in newspapers ' I hate to admit it at this point ' almost 25 years.
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