United States

                    Securities and Exchange Commission
                          Washington, D.C.  20549
                                                       
                                     
                                     
                                 FORM 10-Q


(Mark One)
    x          QUARTERLY REPORT PURSUANT TO SECTION 13 OR
   ---         15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
               For the quarterly period ended March 30, 1997
  
   ---         TRANSITION REPORT PURSUANT TO SECTION 13 OR
               15(d) OF THE SECURITIES EXCHANGE ACT OF 1934
               For the transition period from _____to_____           
     
  
                   Commission File Number:  1-10333
  
                                                   
  
                       CENTRAL NEWSPAPERS, INC.
        (Exact name of registrant as specified in its charter)
   
                                   
            Indiana                           35-0220660
   (State or other jurisdiction             (I.R.S. Employer 
  of incorporation or organization)        Identification Number)
 
  
  135 North Pennsylvania Street, Suite 1200, Indianapolis, Indiana 46204
                  (Address of principal executive office)

                              (317) 231-9200
                      (Registrant's telephone number)
                                                     

Indicate by check mark whether the registrant has (1) filed all reports required
to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during
the preceding 12 months (or for such shorter period that the registrant
was required to file such reports), and (2) has been subject to such filing 
requirements for the past 90 days.
     
                         YES   x   NO      
                              ---      ---
The number of shares of each class of common stock outstanding as of April 30,
1997:
     
               CLASS A COMMON STOCK          23,199,111
               CLASS B COMMON STOCK          31,553,000
                                                               
                                                                         
<PAGE> 2


                         Central Newspapers, Inc.

                            Index to Form 10-Q



Part I -- FINANCIAL INFORMATION                                Page

  Item 1 -- Financial Statements:

        Consolidated Statement of Financial Position            3-4
                        
        Consolidated Statement of Income                          5    
              
        Consolidated Statement of Shareholders' Equity            6
   
        Consolidated Statement of Cash Flows                      7   

        Notes to Consolidated Financial Statements              8-9 

    Item 2 -- Management's Discussion and Analysis of                 
              Financial Condition and Results of Operations     9-13       
            
Part II -- OTHER INFORMATION                                   14-17


<PAGE> 3



                                  PART I


Item 1. Financial Statements

                        CENTRAL NEWSPAPERS, INC.
               Consolidated Statement of Financial Position


                                                   March 30,   Dec. 29,
ASSETS                                                 1997       1996 
(In thousands)                                     (Unaudited)
                                                    --------   --------
CURRENT ASSETS:
 Cash and cash equivalents                           $59,447    $36,149
 Marketable securities                                11,952     25,612
 Accounts receivable (net of allowances of
   $2,546 and $792)                                   77,347     90,023
 Inventories                                           8,697      8,912
 Deferred income tax benefits                          7,512      7,263
 Other current assets                                  5,446      3,503
                                                    --------   --------
      Total current assets                           170,401    171,462
                                                    --------   --------



PROPERTY, PLANT AND EQUIPMENT:
 Land                                                 18,604     18,225
 Buildings and improvements                          121,855    121,785
 Leasehold improvements                                4,256      4,255
 Machinery and equipment                             372,699    367,173
 Construction in progress                              2,840      1,414
                                                    --------   --------
                                                     520,254    512,852
      Less accumulated depreciation                  224,593    215,872
                                                    --------   --------
                                                     295,661    296,980
                                                    --------   --------


OTHER ASSETS:
 Land held for development                             3,105      3,118
 Goodwill and other intangibles                      115,110     75,449
 Investment in Affiliate                               8,428      8,867
 Other                                                30,009     31,096
                                                    --------   --------
                                                     156,652    118,530
                                                    --------   -------- 
TOTAL ASSETS                                        $622,714   $586,972
                                                    ========   ========


See accompanying notes to consolidated financial statements.

<PAGE> 4



                        CENTRAL NEWSPAPERS, INC.
               Consolidated Statement of Financial Position


                                                   March 30,   Dec. 29,
LIABILITIES AND SHAREHOLDERS' EQUITY                   1997       1996 
(In thousands, except share data)                  (Unaudited)
                                                    --------   --------
CURRENT LIABILITIES:
 Accounts payable                                    $15,224    $19,079
 Accrued compensation                                 16,755     17,052
 Dividends payable                                     5,338      5,180
 Accrued expenses and other liabilities               17,220     13,914
 Federal and state income taxes                       14,459      5,880
 Deferred revenue                                     22,727     18,034
                                                    --------   --------
      Total current liabilities                       91,723     79,139
                                                    --------   --------
DEFERRED INCOME TAXES                                 28,189     26,602
                                                    --------   --------
LONG-TERM DEBT                                         2,678      2,678
                                                    --------   -------- 
POSTRETIREMENT BENEFIT OBLIGATION                     82,394     81,759
                                                    --------   -------- 
MINORITY INTEREST IN SUBSIDIARY                          836      9,244
                                                    --------   --------
REDEEMABLE PREFERRED STOCK ISSUED BY SUBSIDIARY       18,920  
                                                    --------   --------
SHAREHOLDERS' EQUITY:
 Preferred stock--issuable in series:
   Authorized--25,000,000 shares
   Issued--none
 Class A common stock--without par value:
   Authorized--75,000,000 shares
   Issued--23,197,911 and 23,237,711 shares           25,763     24,259
 Class B common stock--without par value:
   Authorized--50,000,000 shares
   Issued--31,553,000 shares                              63         63
 Retained earnings                                   372,070    363,365
 Unamortized value of restricted stock                (1,800)    (1,627)
 Unrealized gain on available-for-sale securities      1,878      1,490
                                                    --------   --------   
                                                     397,974    387,550
                                                    --------   -------- 
TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY          $622,714   $586,972
                                                    ========   ========


See accompanying notes to consolidated financial statements.

<PAGE> 5

                         CENTRAL NEWSPAPERS, INC.
                     Consolidated Statement of Income
                                (Unaudited)


(In thousands, except per share data)
                                                   Thirteen Weeks Ended     
                                                   March 30,  March 31,
                                                       1997       1996 
                                                    --------   --------
OPERATING REVENUES:
 Advertising                                        $128,996   $112,504
 Circulation                                          35,554     34,270
 Other                                                 6,418      1,122
                                                    --------   --------
                                                     170,968    147,896
                                                    --------   -------- 
OPERATING EXPENSES:
 Compensation                                         59,599     56,817
 Newsprint and ink                                    24,320     32,348
 Other operating costs                                39,295     32,499
 Depreciation and amortization                        10,705      8,459
 Building impairment cost                                         3,034
 Work force reduction cost                             6,041        440
                                                    --------   --------
                                                     139,960    133,597
                                                    --------   -------- 
OPERATING INCOME                                      31,008     14,299

OTHER INCOME (principally investment income)           1,266      1,857

OTHER EXPENSES                                          (174)      (264)
                                                    --------   --------
INCOME BEFORE INCOME TAXES                            32,100     15,892

PROVISION FOR INCOME TAXES                            13,534      6,592
                                                    --------   --------
INCOME BEFORE MINORITY INTEREST AND
 EQUITY IN AFFILIATE                                  18,566      9,300

MINORITY INTEREST IN SUBSIDIARIES                       (543)      (182)

EQUITY IN AFFILIATE, NET OF TAX                         (285)       691
                                                    --------   -------- 
NET INCOME                                           $17,738     $9,809
                                                    ========   ========

NET INCOME PER COMMON SHARE                             $.67       $.37 
                                                        ====       ====

DIVIDENDS DECLARED PER CLASS A COMMON SHARE             $.19       $.17 

AVERAGE COMMON SHARES
 OUTSTANDING (combined Class A and 
  equivalent Class B shares)                          26,394     26,700


See accompanying notes to consolidated financial statements.

<PAGE> 6
<TABLE>
                                CENTRAL NEWSPAPERS, INC.
                      Consolidated Statement of Shareholders' Equity
                                      (Unaudited)

<CAPTION>
(In thousands, except share data)                                                                        Unrealized
                                                                                              Unamortized  Gain on
                                       Common Stock            Common Stock                     Value of  Available-
                                         Class A                 Class B            Retained  Restricted  for-Sale
                                     Shares     Amount      Shares      Amount      Earnings      Stock  Securities
                                   ----------   --------  ----------    --------    --------  ---------- ----------
<S>                                <C>           <C>      <C>                <C>    <C>          <C>        <C>       
BALANCE AT JANUARY 1, 1996         23,520,611    $18,967  31,553,000         $63    $338,436                $1,275

 Net income (13 weeks)                                                                 9,809
 Dividends declared:
   Class A common stock                                                               (4,006)
   Class B common stock                                                                 (536)
 Exercise of stock options             93,500      1,132
 Change in unrealized gain on
    available-for-sale securities                                                                              (70)
                                   ----------    -------  ----------    --------     -------  ---------- ----------      
BALANCE AT MARCH 31, 1996          23,614,111     20,099  31,553,000          63     343,703                 1,205

 Net income (39 weeks)                                                                51,725
 Dividends declared:
   Class A common stock                                                              (12,850)
   Class B common stock                                                               (1,736)
 Exercise of stock options             61,200      2,796
 Repurchase of Class A common stock  (490,100)      (539)                            (17,477)
 Issuance of restricted stock grants   52,500      1,903                                        ($1,903)
 Amortization of restricted stock
  grants                                                                                            276
 Change in unrealized gain on 
   available-for-sale securities                                                                               285
                                   ----------    -------  ----------    --------     -------  ---------- ---------    
BALANCE AT DECEMBER 29, 1996       23,237,711     24,259  31,553,000          63     363,365     (1,627)     1,490

 Net income (13 weeks)                                                                17,738
 Dividends declared:
   Class A common stock                                                               (4,407)
   Class B common stock                                                                 (599)
 Exercise of stock options             42,700      1,224
 Repurchase of Class A common stock   (90,500)       (91)                             (4,027)
 Issuance of restricted stock grants    8,000        371                                           (371)
 Amortization of restricted stock 
  grants                                                                                            198
 Change in unrealized gain on 
   available-for-sale securities                                                                               388
                                   ----------    -------  ----------    --------    --------  ---------- ---------
BALANCE AT MARCH 30, 1997          23,197,911    $25,763  31,553,000         $63    $372,070    ($1,800)    $1,878
                                   ==========    =======  ==========    ========    ========  ========== =========
<FN>
See accompanying notes to consolidated financial statements.
</TABLE>

<PAGE> 7


                          CENTRAL NEWSPAPERS, INC.
                     Consolidated Statement of Cash Flows
                                 (Unaudited)


(In thousands)                                      13 Weeks   13 Weeks
                                                       Ended      Ended
                                                   March 30,  March 31,
                                                       1997       1996 
                                                    --------   --------
OPERATING ACTIVITIES:
 Net income                                          $17,738     $9,809
 Items which did not use (provide) cash:
   Depreciation and amortization                      10,705      8,463
   Postretirement and pension benefits                 1,728      1,687
   Loss (gain) on disposition of assets                  (65)     2,960
   Minority interest in earnings of subsidiaries         543        181
   Equity in Affiliate                                   285       (715)
   Deferred income taxes                                 420        490
   Amortization of restricted stock awards               198
   Net proceeds from trading securities                2,048     41,392
   Net change in other current assets and liabilities 27,515      9,246
                                                    --------   --------
      Net cash provided by operating activities       61,115     73,513
                                                    --------   --------
INVESTING ACTIVITIES:
 Purchase of property, plant and equipment-net        (6,665)   (12,310)
 Purchases of available-for-sale securities                      (5,798)
 Proceeds from available-for-sale securities          11,437     19,884
 Acquisition of subsidiaries                         (33,219)   (60,509)
 Other                                                   (36)      (581)
                                                    --------   --------
      Net cash used by investing activities          (28,483)   (59,314)
                                                    --------   -------- 
FINANCING ACTIVITIES:
 Cash dividends paid                                  (5,015)    (4,535)
 Dividends paid to minority interest                    (165)      (492)
 Proceeds from exercise of stock options                 763        891
 Principal repayments on long-term debt                 (800)
 Repurchase of Class A common stock                   (4,117)
                                                    --------   --------
      Net cash used by financing activities           (9,334)    (4,136)
                                                    --------   --------
INCREASE IN CASH AND CASH EQUIVALENTS                 23,298     10,063
     
CASH AND CASH EQUIVALENTS, BEGINNING OF PERIOD        36,149     26,142
                                                    --------   --------
CASH AND CASH EQUIVALENTS, END OF PERIOD             $59,447    $36,205
                                                    ========   ========

SUPPLEMENTAL CASH FLOW INFORMATION:
 Issuance by subsidiary of redeemable preferred 
  stock in exchange for Class A common stock 
  of subsidiary                                      $18,920
 Income taxes paid during the period                   4,065     $1,745
 Interest paid during the period                          25        168


See accompanying notes to consolidated financial statements.
<PAGE> 8

                         CENTRAL NEWSPAPERS, INC.
                Notes to Consolidated Financial Statements
                                (Unaudited)


1. Central Newspapers, Inc. and its subsidiaries (the "Company") are primarily
engaged in the publishing and distribution of newspapers.  Revenues are
principally derived from advertising and newspaper sales in the Phoenix, Arizona
and Indianapolis, Indiana metropolitan areas.  The Company also has an 80%
interest in the Westech group of companies which are predominately in the jobs
fair business and a 13.5% interest in Ponderay Newsprint Company ("Affiliate"),
a partnership formed to own and operate a newsprint mill in the State of
Washington. 
     
The preparation of financial statements in conformity with generally accepted
accounting principles requires management to make estimates and assumptions that
affect the reported amounts of assets and liabilities and disclosure of
contingent assets and liabilities at the date of the financial statements and 
the reported amounts of revenues and expenses during the reporting period.  
Actual results could differ from those estimates.
 
2. The accompanying unaudited consolidated financial statements do not include
all of the information and disclosures which are normally included in Form 10-K
and annual report to shareholders.  These financial statements should be read in
conjunction with the Company's audited consolidated financial statements and
related notes for the year ended December 29, 1996.  The accompanying
consolidated financial statements have been prepared in accordance with the
instructions to Form 10-Q and Rule 10-01 of Regulation 
S-X.  The consolidated statement of financial position at December 29, 1996 has
been derived from audited financial statements.  In the opinion of the Company's
management, the unaudited consolidated financial statements reflect all
adjustments which are necessary to present fairly the Company's financial
position, results of operations and cash flows for the interim periods
presented. All adjustments are of a normal recurring nature.  Such statements
are not necessarily indicative of the results to be expected for the full
year.  

3.  The Company's fiscal year ends on the last Sunday of the calendar year.  The
years ending December 28, 1997 and December 29, 1996 each comprise 52  weeks.

4.  Net income per common share is computed based on the weighted average number
of common shares outstanding.  The Class B common shareholders have the right to
convert their shares into shares of Class A common stock at the ratio of ten
shares of Class B common stock for one share of Class A common stock.  The Class
B common stock is included in the computation as if converted into Class A 
common stock.

5.  During 1997 and 1996, the Company reduced its work force in response to
circulation distribution changes, technological changes and the closure of the
Phoenix afternoon newspaper.  Certain employees were offered retirement benefits
through a non-qualified supplemental retirement plan.  Year-to-date 1997 work
force reduction costs were $6,041,000.  

6.  On March 19, 1996 the Board of Directors authorized the repurchase of up to
1,000,000 shares of the Company's Class A common stock.  The shares may be
purchased over three years on the open market or in privately 
negotiated transactions.  As of March 30, 1997 the Company had repurchased 
580,600 shares of Class A common stock.

7.  In February 1997 the Financial Accounting Standards Board issued SFAS No.
128, "Earnings Per Share."  This statement establishes new standards for
reporting earnings per share.  This standard is effective for interim and annual
periods ending after December 15, 1997. It is not expected to have a material
impact on the Company's earnings per share.

<PAGE> 9

8.  On January 3, 1997, the Company acquired the remaining 9.8% of Indianapolis
Newspapers, Inc. ("INI") common stock that it did not already own.  This
transaction, which was recorded using purchase accounting, was accomplished by 
issuing the current minority shareholders an aggregate of 1,892 shares of 
newly created, non-voting, INI preferred stock, with an aggregate stated value
of $18,920,000, in exchange for the shares of INI common stock owned by them. 
The preferred stock provides for aggregate annual dividends of $1,324,000 on a 
cumulative basis, is callable in five years by INI, and is redeemable at any 
time by the shareholders of INI at the stated value plus accrued but unpaid 
dividends.  This transaction is not expected to have a material effect on future
earnings.

9.  In February 1997, the Company acquired for $34.8 million, 80% of the
Santa Clara, California based Westech group of companies. The transaction was
accounted for using purchase accounting.  The group, which had 1996 sales of 
approximately $20 million, includes Westech ExpoCorp., which organizes job fairs
for the high tech industry, High Technology Careers, which publishes High 
Technology Careers Magazine and Virtual Job Fair, an internet-based resume 
posting and research service and JobsAmerica, which organizes job fairs for 
service industry positions.  The transaction generated approximately $32.4
million of goodwill which is being amortized on a straight line basis over 15
years.

10. Certain amounts in the financial statements have been reclassified to
conform with the 1997 presentation.

Item 2.  Management's Discussion and Analysis of Financial Condition and       
         Results of Operations

GENERAL  

The principal line of business of the Company is newspaper publishing.  Revenues
are derived primarily from advertising and newspaper sales in the Phoenix,
Arizona and Indianapolis, Indiana metropolitan areas.  The Company also has an 
80% interest in the Westech group of companies which are predominantly in the
jobs fair business and a 13.5% interest in Ponderay, a partnership formed to 
own and operate a newsprint mill in the State of Washington.  The analysis of
the first quarter of 1997 compared with the first quarter of 1996 should be
read in conjunction with the fiscal 1996 consolidated financial statements 
and the accompanying notes to the consolidated financial statements.

The Company's business tends to be seasonal, with peak revenues and profits
generally occurring in the second and fourth quarters of each year.

RECENT EVENTS

On April 14, 1997, the Company entered into definitive agreements with the
beneficiaries of the Enid Goodrich estate to purchase an aggregate of
1,177,367 shares of Class A common stock at $49.50 per share.  The aggregate
$58.3 million transactions are expected to be consummated no later than May 31,
1997.

In February 1997, the Company acquired 80% of Westech.  Based in Santa Clara,
California, Westech consists of Westech ExpoCorp., which organizes job fairs for
the high tech industry; High Technology Careers, which publishes High Technology
Careers Magazine and Virtual Job Fair (http://www.vjf.com), an internet-based
resume posting and research service; and JobsAmerica, which organizes job fairs
for service industry positions.  Westech had approximately $20 million of
revenues in 1996.
<PAGE> 10

Effective January 18, 1997, the Company ceased publication of its afternoon
newspaper, The Phoenix Gazette, and realigned the news gathering structure of 
its morning newspaper, The Arizona Republic.  These changes resulted in the 
Company recording a one-time pre-tax charge to earnings of approximately $4.8 
million in the first quarter of 1997 and are expected to result in a reduction 
in operating expenses of approximately $5.0 million in 1997 and ongoing 
operating expense savings in future years of approximately $6.4 million.  
Approximately 85 positions were eliminated as a result of these actions.

On January 3, 1997, the Company acquired the remaining 9.8% of Indianapolis
Newspapers, Inc. ("INI") common stock that it did not already own.  This 
transaction, which was recorded using purchase accounting, was accomplished 
by issuing the current minority shareholders an aggregate of 1,892 shares of
newly created, non-voting, INI preferred stock, with an aggregate stated 
value of $18,920,000, in exchange for the shares of INI common stock owned by
them.  The preferred stock provides for aggregate annual dividends of 
$1,324,000 on a cumulative basis, is callable in five years by INI, and is 
redeemable at any time by the shareholders of INI at the stated value plus 
accrued but unpaid dividends.  This transaction is not expected to have a 
material effect on future earnings.

On March 12, 1996, the Company purchased 100% of the outstanding common stock of
McCormick & Company, Inc. ("McCormick"), which owns the Alexandria Daily Town
Talk newspaper of Louisiana and McCormick Graphics, Inc., a commercial printing
subsidiary.  The purchase price was approximately $62.0 million in cash.  Since
a significant portion of the purchase price was allocated to intangible assets,
the amortization of which is not deductible for tax purposes, the Company's net
income may be negatively impacted for approximately three years from the date of
acquisition.  Thereafter,the acquisition is expected to contribute positively
to net income.  However, the Company's EBITDA has been positively impacted 
since the acquisition.

FIRST QUARTER OF 1997 COMPARED WITH THE FIRST QUARTER OF 1996

QUARTERLY RESULTS OF OPERATIONS

The first quarter of 1997 resulted in record revenues and profits for the
Company.  First quarter earnings per share were $.67, an 81.1% increase over the
$.37 earned in the first quarter of 1996.  Both quarters included the effects of
work force reduction and/or asset impairment costs ("special charges") which
negatively impacted earnings.  Excluding the special charges, earnings per share
would have been $.81 in the first quarter of 1997 and $.44 in the first quarter
of 1996, an increase of 84.1%.  Operating income for the first quarter of 1997
was $31.0 million for an increase of 116.9% from the $14.3 million earned in the
first quarter of 1996.  Approximately $9.6 million of the operating income
increase was due to substantially lower newsprint prices in the 1997 first
quarter when compared with 1996.  The first quarter of 1997 includes two
additional months of year-over-year McCormick activity, initial operating income
from Westech and work force reduction charges primarily related to The 
Phoenix Gazette closure.  The 1996 first quarter included charges related to
asset impairments and work force reductions.  Excluding these items in both 
periods, 1997 first quarter operating income would have been $34.7 million 
compared to $17.8 million in the 1996 first quarter for an increase of 95.0%.
EBITDA (operating income before depreciation, amortization and special 
charges) for the comparable periods was $47.8 million in the 1997 period and
$26.2 million in the 1996 period, an increase of 82.0%.  Net income for the 
1997 first quarter was $17.7 million, an 80.8% increase from the $9.8 million
net income for the first quarter of 1996. Excluding the special charges for 
both periods, net income would have been $21.2 million and $11.8 million, 
respectively.

<PAGE> 11

OPERATING REVENUES

The Company's quarterly operating revenues rose to $171.0 million in 1997 from
$147.9 million in 1996, an increase of 15.6%.  These comparisons include the 
1997 revenues from the February 1997 Westech acquisition and the March 1996
McCormick acquisition (the "Acquisitions").  Excluding the effects of the
Acquisitions, operating revenues increased 9.3% compared to the first quarter of
1996. Advertising and circulation revenues increased 14.7% and 3.7%, 
respectively, in the first quarter of 1997.  These gains were partially affected
by the Acquisitions, but the advertising increases were primarily due to strong 
gains in the classified and national advertising groups in both major markets.  
Areas of particular advertising strength included automotive and recruitment
advertising categories in Phoenix and all major advertising categories in
Indianapolis.  Although The Phoenix Gazette closed in January, 1997, the impact
on advertising and circulation revenues was not significant since approximately
85% of the Phoenix afternoon subscribers were successfully transferred to The
Arizona Republic.

The following is a summary of major market linage and circulation statistics for
the period:

(In thousands, except circulation)


                                               1st Quarter         % 
                                           ------------------
                                              1997       1996    Change

Full Run Linage in six column inches: (1)
Retail                                       633.6      567.2      11.7
National                                     101.3       62.3      62.6
Classified                                   759.5      656.8      15.6
                                           -------    -------  
     Total                                 1,494.4    1,286.3      16.2
                                           =======    =======  


Full Run Linage by Major Markets:
     Phoenix (1)                             686.9      652.4       5.3
     Indianapolis                            807.5      633.9      27.4
                                           -------    -------  
                                           1,494.4    1,286.3      16.2
                                           -------    -------

Net Advertising Revenue (1)               $128,996   $112,504      14.7

Combined Average Daily Circulation:
     Phoenix                               487,050    492,413      (1.1)
     Indianapolis                          274,660    290,111      (5.3)
Sunday Circulation:
     Phoenix                               618,546    621,310       (.4)
     Indianapolis                          393,219    403,134      (2.5)
     

(1) For comparability, linage statistics for the 13 weeks ended March 31, 1996 
and March 30, 1997 exclude linage of The Phoenix Gazette, which ceased
publication in January, 1997.  Linage statistics for the thirteen weeks ended 
March 31, 1996 including The Phoenix Gazette were 762 retail, 88 national and
889 classified.  Total Phoenix market full run linage for the 1996 period 
including The Phoenix Gazette, was 1,106. Advertising revenue was not 
significantly affected by the closure of The Phoenix Gazette and has not 
been restated.


OPERATING EXPENSES

Compensation costs, which include payroll and fringe benefits, increased 4.9% to
$59.6 million in the first quarter of 1997 compared with the first quarter of
1996.  Excluding the acquisitions, compensation costs would have increased
0.3%. Period over period headcount (excluding Westech) decreased 2.7% due
primarily to the closure of The Phoenix Gazette and the impact of a 
conversion from a carrier-based distribution arrangement to an agency-based 
distribution work force in Indianapolis.  Newsprint and ink expense was $24.3
million in the first quarter of 1997, a 24.8% decrease from the first quarter
of 1996.  Excluding the acquisitions, newsprint and ink expense would have 
decreased 26.8%.  Sharply lower prices of newsprint of approximately 30% in the
first quarter of 1997 compared to the first quarter of 1996 have resulted in a
significant decrease in costs; however, the Company increased newsprint 
consumption by 6.5% due to the acquisitions and increased 

<PAGE> 12

advertising linage.  Other operating costs increased 20.9% to $39.3 million in
the first quarter of 1997.  Excluding the acquisitions, operating costs 
increased 12.7%.  Significant items contributing to the increase in operating
costs included higher property taxes in Phoenix and Indianapolis, charges 
associated with the Phoenix client server computer system, and changes in
circulation distribution methods in Indianapolis.

Depreciation and amortization expense increased 26.6% to $10.7 million in the
first quarter of 1997 compared to the first quarter of 1996.  Excluding the
effects of the acquisitions, depreciation and amortization expense would have
increased 13.7% as a result of the new office building and client server 
computer system in Phoenix and distribution centers and inserting equipment
at both locations.

The Company recorded work force reduction costs of approximately $6.0 million in
the first quarter of 1997.  Of this amount, approximately $4.8 million resulted
from the closure of The Phoenix Gazette where approximately 85 positions were
eliminated.  The balance of the charge related to the costs of eliminating 18
positions in the conversion of distribution systems in Indianapolis.

NON-OPERATING ITEMS

Other non-operating income (primarily investment income) decreased 31.8% in the
first quarter of 1997 primarily due to a reduction in investable cash because of
the Westech and McCormick acquisitions.  Income tax expense increased 105.3%
reflecting sharply higher taxable income.  Equity in affiliate decreased $1.0
million due to a reduction in newsprint selling prices being realized by 
Ponderay Newsprint Company.

LIQUIDITY AND CAPITAL RESOURCES FOR THE QUARTER ENDED MARCH 30, 1997

Net cash provided by operating activities is the Company's primary source of
liquidity.  Net cash provided by operating activities, excluding the effects of
net purchases of trading securities for the first quarter of 1997 and 1996, was
$59.1 million and $32.1 million, respectively.  Changes for both years were
primarily attributable to net income and working capital differences.  The
principal uses of cash in the first quarter of 1997 were the acquisition of
Westech, payment of dividends, capital expenditures and the repurchase of Class
A common stock.  At the end of the quarter, the Company's available cash and
investments totaled $71.4 million, up $9.6 million from the end of 1996.
Working capital for the same period decreased $13.6 million to $78.7 million.

Total capital expenditures in the first quarter of 1997 were $6.7 million
compared with $12.3 million in the first quarter of 1996.  As of March 30, 1997,
there are no significant formal commitments related to future capital
expenditures.

The Company announced in March, 1996 that it has been authorized to repurchase
up to 1 million shares of Class A common stock on the open market or in
privately negotiated transactions over a three year time period.  Through March 
30, 1997 the Company had repurchased a total of 580,600 shares.  For the 
quarter ended March 30, 1997 the Company repurchased 90,500 shares in the 
aggregate cost of $4.1 million.

On April 14, 1997, the Company announced that it had signed definitive 
agreements to repurchase 1,177,367 shares of its Class A common stock (not 
related to the March 1996 authorized repurchase) at $49.50 per share from the 
beneficiaries of the estate of Enid Goodrich.  The aggregate $58.3 million 
transactions are expected to be consummated by May 31, 1997.  The Company plans 
to utilize existing cash and investments for part of the repurchase with the
balance being obtained from a $60 million uncommitted, unsecured short-term bank
line of credit that the Company is currently negotiating.
<PAGE> 13

Dividends of $.19 per share on the Class A common stock and $.019 on the Class
B common stock were declared during the quarter.

The Company has demonstrated a consistent ability to generate net cash flow from
operations. As a result, management believes that existing cash and investments,
available bank credit resources and net cash flows from operations will be
sufficient to fund existing capital and investment needs along with working
capital requirements for the foreseeable future.


OUTLOOK FOR THE REMAINDER OF 1997

The Company foresees continued growth in advertising revenues for the balance of
1997, but at a rate less than that experienced in the first quarter of 1997. 
Despite the closure of The Phoenix Gazette in January, 1997, circulation revenue
is also expected to increase modestly compared to 1996 due to September, 1996
Indianapolis price increases and circulation growth.  Non-newsprint operating
expenses are expected to increase at a comparable rate with revenue growth.  The
cost of newsprint expense, the second largest expense category, is expected to
increase during the remainder of 1997; but total 1997 newsprint and ink expense
is expected to be less than comparable 1996 levels.  If so, the Company expects
favorable financial performance in 1997 compared with 1996.

FORWARD LOOKING STATEMENTS

This document contains material that is forward-looking in nature.  From time to
time, the Company may provide forward looking statements relating to such 
matters as anticipated financial performance, business prospects and similar 
matters. All forward-looking statements are based upon information available to 
the Company at the time they are made and the Company assumes no obligation to
update any forward-looking statements.  The Company notes that a variety of 
factors could cause the Company's actual results to differ materially from the
expectations expressed in the forward-looking statements.  The risks and
uncertainties that may affect the operations, performance and results of the
Company's business include, but are not limited to:

*  economic weakness in the Company's geographic markets
*  weakness in retail and/or classified advertising revenue due to factors     
   including retail consolidations, declines in the advertising budgets of     
   major customers, and increased competition from print and non-print         
   products
*  declines in circulation due to changing reader preferences and/or new forms 
   of information dissemination
*  fluctuations in the price of newsprint
*  and increase in distribution and/or production costs over anticipated       
   levels
*  the negative impact of issues related to labor agreements
<PAGE> 16

                                  PART II



                         CENTRAL NEWSPAPERS, INC.


Item 1.  Legal Proceedings -- None

Item 2.  Changes in Securities -- None

Item 3.  Default Upon Senior Securities -- None

Item 4.  Submission of Matters to a Vote of Security Holders -- None

Item 5.  Other Information -- None

Item 6.  Exhibits and Reports on Form 8-K

     a) Exhibits 1a and 1b -- Independent Accountant's Reports

     b) Exhibit 2 -- Press release relating to an agreement to repurchase   
        1.18 million shares of Class A common stock from the beneficiaries of 
        the estate of Enid Goodrich.

     c) The Company filed a report on Form 8-K on March 12, 1997 announcing 
        that the Board of Directors of the Company recommended to       
        shareholders the appointment of Price Waterhouse LLP to examine the 
        financial statements of the Company for the fiscal year ending 
        December 28, 1997.  This recommendation was ratified by the     
        shareholders at the annual meeting held on April 24, 1997.  Price 
        Waterhouse LLP will replace Geo. S. Olive & Co., LLC which has acted 
        as the independent public accountant for the Company for its two most 
        recent fiscal years.





                                SIGNATURES


Pursuant to the requirements of the Securities Exchange Act of 1934, the Company
has duly caused this report to be signed on its behalf by the undersigned
thereunto duly authorized.


                                  CENTRAL NEWSPAPERS, INC.



Dated:  April 28, 1997            By:/s/ Louis A. Weil, III
                                     ----------------------                    
                                      Louis A. Weil, III
                                      President and Chief Executive 
                                       Officer


                                  
                                  By: /s/ Thomas K. MacGillivray
                                      --------------------------                
                                      Thomas K. MacGillivray
                                      Vice President and Chief 
                                       Financial Officer