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CHICAGO, May 30, 2006 (UPI via COMTEX) -- The Securities and Exchange Commission and the company that owns the Los Angeles Times and the Chicago Tribune have settled a circulation probe.
The Tribune Co. said Tuesday it identified circulation reporting errors at two of its New York properties, Newsday and the Spanish-language Hoy, as part of a 2004 internal investigation. The company also said it helped the SEC during the commission's inquiry, which also began in 2004.
In closing its inquiry, the SEC ordered the Tribune Co. to "cease and desist" from violating statutory provisions related to its record-keeping and reporting. Newsday and Hoy circulation-related records were inaccurate due to the practices uncovered by the company, a Tribune spokesman said. No fines or other sanctions were levied against the company.
"The circulation misstatements at Newsday and Hoy were caused by the actions of a few people who are no longer employed at either newspaper," a Tribune spokesman said. "We've since brought in a new management team and strengthened controls at Newsday and Hoy, and tightened circulation policies, systems and procedures at all of our newspapers."
URL: www.upi.com Copyright 2006 by United Press International
