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News > Deals
Pulitzer sells ISP business
January 11, 2001: 12:33 p.m. ET

Deal will transfer 14,000 Internet service customers to Earthlink
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NEW YORK (CNNfn) - Pulitzer Inc. agreed Thursday to sell its Internet access service to online service provider Earthlink, a move designed to allow the publishing company to focus more on providing content for the Web.

Terms of the transaction were not disclosed. The agreement calls for Earthlink, currently the No. 2 U.S. Internet service provider, to assume control of the roughly 14,000 customers who signed up for Internet service through Pulitzer's postnet.com. The deal is expected to close by the end of this month.

graphic"The sale of our Internet service provider business to Earthlink will allow each of us to focus on specific areas of online expertise, and for Pulitzer, that is content," said Bob Woodworth, Pulitzer's president and CEO.

Following the sale, Pulitzer will continue to provide news, sports and entertainment news via its postnet.com site, which serves as the official Web site for the St. Louis Post-Dispatch, one of the largest newspapers owned by the St. Louis-based company.

The sale comes one month after Pulitzer warned its fourth-quarter earnings would be "slightly below" analysts' consensus forecast of 47 cents per share because of weaker advertising revenue and higher newspaper costs.

Pulitzer (PTZ: Research, Estimates) shares gained 18 cents to $47.20 in late morning trading Thursday while Earthlink (ELNK: Research, Estimates) added 19 cents to $7.81. graphic

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