Star-Bulletin Employes Given Notice of Possible Closure
HONOLULU (AP) _ The owner of the Honolulu Star-Bulletin has given employees notice that the newspaper could be shut down if it is not sold by Jan. 31.
The company said there is little likelihood of closure and that the notice was merely a legal formality in its move to buy another newspaper in the city. About 90 full- and part-time employees of the Star-Bulletin and about 800 Hawaii Newspaper Agency employees received a letter Tuesday from Gannett Pacific President Richard Hartnett.
The letter gave employees their 45-day notice as required by state law, but Hartnett also said that the company does not anticipate their employment will be terminated or that they will be laid off.
Gannett has entered into an agreement with the Persis Corp. to buy the morning Honolulu Advertiser for $250 million. However, Gannett must first sell the afternoon Star-Bulletin to comply with federal anti-trust laws.
The newspaper agency handles advertising, production and circulation for both newspapers under a Joint Operating Agreement.
Gannett wants to sell the Star-Bulletin and complete the purchase of the Advertiser by Jan. 31.
Stuart Ho, chairman of Gannett Pacific, has said talks with parties interested in the purchase of the Star-Bulletin are continuing.