Document:

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                                                                   EXHIBIT 10.43

                                  PULITZER INC.

                            EXECUTIVE TRANSITION PLAN

     1. Purpose. The purpose of the Plan is to establish equitable and
comprehensive parameters for providing severance protection to covered
executives.

     2. Definitions.

        (a) "Accrued Compensation" means, with respect to a Participant as of
the termination of the Participant's employment with the Company and its
Affiliates, any previously earned and unpaid base salary or commissions, accrued
and unpaid bonus for the preceding year, and additional entitlements under any
employee plan, program or arrangement of the Company or an Affiliate (other than
the Plan).

        (b) "Affiliate" means any entity at least 50% of the voting, capital or
profits interests of which is owned directly or indirectly by the Company.

        (c) "Benefit Continuation" means continuing coverage for a Participant
and, where applicable, the Participant's covered spouse and covered eligible
dependents under each of the Company's group health and group life insurance
plans for such period following the termination of the Participant's employment
with the Company and its Affiliates as is specified in Section 5 or 6 herein
with respect to such termination of employment (or, if sooner, until
corresponding coverage is obtained under a successor employer's plan) at the
same benefit and contribution levels in effect immediately prior to such
termination of employment or, to the extent not permitted by the plan or by
applicable law, cash payments sufficient to enable the Participant and/or the
Participant's covered spouse and covered eligible dependents, on an after tax
basis, to obtain comparable individual coverage through the end of such period.
The continuing group health plan coverage component of a Participant's Benefit
Continuation will be made available in addition to and not in lieu of COBRA
continuation coverage.

        (d) "Board" means the Board of Directors of the Company.

        (e) "Cause" means (1) the commission of a felony involving moral
turpitude, (2) the willful and repeated failure or refusal to carry out the
material responsibilities of a Participant's employment with the Company or an
Affiliate, or (3) any other willful misconduct or pattern of behavior which has
had or is reasonably likely to have a significant adverse effect on the Company
or an Affiliate, all as determined by the Board acting in its sole discretion.
Notwithstanding the preceding sentence, if there is a written employment
agreement in effect between a Participant and the Company or an Affiliate that
defines the term "cause" (or a term of like import) in a similar context, then,
with respect to that Participant, the term Cause, as used in such context
herein, shall have the meaning ascribed to such term under the Participant's
employment agreement.

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     (f) "Change in Control" means the occurrence of any of the following
after June 30, 2001:

          (i) any person (within the meaning of Section 13(d)(3) or 14(d)(2) of
     the Securities Exchange Act of 1934, as amended ("Exchange Act")) becomes
     the beneficial owner (within the meaning of Rule 13d-3 promulgated under
     the Exchange Act) of 40% or more of the combined voting power of the then
     outstanding voting securities of the Company, other than (1) a person who
     is the beneficial owner of shares of Class B Common Stock of the Company,
     or (2) as a result of inheritance;

          (ii) a consolidation, merger or reorganization involving the Company,
     unless (1) the stockholders of the Company immediately before such
     consolidation, merger or reorganization own, directly or indirectly, at
     least a majority of the combined voting power of the outstanding voting
     securities of the corporation resulting from such consolidation, merger or
     reorganization, (2) individuals who were members of the Board immediately
     prior to the execution of the agreement providing for such consolidation,
     merger or reorganization constitute a majority of the board of directors of
     the surviving corporation or of a corporation directly or indirectly
     beneficially owning a majority of the voting securities of the surviving
     corporation, and (3) no person beneficially owns more than 40% of the
     combined voting power of the then outstanding voting securities of the
     surviving corporation (other than a person who is (A) the Company or a
     subsidiary of the Company, (B) an employee benefit plan maintained by the
     Company, the surviving corporation or any subsidiary, or (C) the
     beneficial owner of 40% or more of the combined voting power of the
     outstanding voting securities of the Company immediately prior to such
     consolidation, merger or reorganization);

          (iii) individuals who, as of July 1, 2001, constitute the entire Board
     (the "Incumbent Board") cease for any reason to constitute a majority of
     the Board, provided that any individual becoming a director subsequent to
     July 1, 2001 whose election, or nomination for election by the Company's
     stockholders, was approved by a vote of at least two-thirds of the
     directors then comprising the Incumbent Board shall be considered as though
     such individual were a member of the Incumbent Board;

          (iv) approval by the stockholders of the Company of a complete
     liquidation or dissolution of the Company, or a sale or other disposition
     of all or substantially all of the assets

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     of the Company (other than to an entity described in (f)(ii) above; or

          (v) any other event or transaction which the Board, acting in its
     discretion and with a view toward carrying out the purposes of the Plan,
     designates is a Change in Control.

Notwithstanding the foregoing, if there is a written employment or other
agreement in effect between a Participant and the Company or an Affiliate that
defines the term "change in control" or a term of like import in a similar
context, then, for the purposes of applying the provisions hereof with respect
to that Participant, the term Change in Control, as used in such context herein,
shall have the meaning ascribed to such term under such agreement.

     (g) "Code" means the Internal Revenue Code of 1986, as amended.

     (h) "Committee" means the Compensation Committee of the Board.

     (i) "Company" means Pulitzer Inc., a Delaware corporation, and any
successor thereto.

     (j) "Disability" means the inability of a Participant to substantially
perform the customary duties and responsibilities of the Participant's
employment with the Company or an Affiliate for a period of at least 120
consecutive days by reason of a physical or mental incapacity which is expected
to result in death or last indefinitely.

     (k) "ERISA" means the Employee Retirement Income Security Act of 1974, as
amended.

     (l) "Good Reason" means the occurrence of any of the following without the
written consent of the Participant: (1) a material diminution by the Company or
an Affiliate of the Participant's duties or responsibilities in a manner which
is inconsistent with his or her position or which has or is reasonably likely to
have a material adverse effect on the Participant's status or authority; (2) a
material diminution of a Participant's working conditions (including, without
limitation, relocation by more than 50 miles of the Participant's principal
place of business); (3) a reduction by the Company or an Affiliate of a
Participant's rate of salary or annual incentive opportunity or a breach by the
Company or any of its Affiliates of a material provision of any written
employment or other agreement with the Participant which is not corrected within
15 days following notice thereof by the Participant to the Company; or (4) any
other event specified in the Plan Certificate as constituting Good Reason.
Notwithstanding the preceding sentence, if there is a written employment
agreement in effect between a Participant and the Company or an Affiliate that
defines the term "good reason" (or a term of like import) in a similar context,
then, for the purpose of applying the provisions hereof with respect to that
Participant, the term Good Reason as used in such similar context herein, shall
have the meaning ascribed to that term under such employment agreement.

     (m) "Participant" means an individual who is designated as such in
accordance with Section 4.

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     (n) "Plan" means the Pulitzer Inc. Executive Transition Plan the terms of
which are set forth herein.

     (o) "Plan Certificate" means a written agreement or certificate setting
forth the rights of a Participant under the Plan, which rights will be fixed by
the Committee or the Board in accordance with the provisions hereof.

     (p) "Pro Rata Cash Bonus" means a Participant's target annual bonus under
the Company's executive incentive compensation plan for the year in which his or
her employment is terminated (or, if greater, the actual annual bonus earned by
the Participant under that plan for such year) multiplied by a fraction, the
numerator of which is the number of days from the beginning of the fiscal year
through the termination date, and the denominator of which is the total number
of days in the fiscal year.

     (q) "Total Cash Compensation" means, as of the effective date of the
termination of a Participant's employment with the Company and its Affiliates,
the sum of: (1) the Participant's highest annual rate of salary at any time
during the preceding 24 months, and (2) the Participant's average annual cash
incentive bonus under the Company's executive incentive compensation plan for
the preceding three fiscal years (or such lesser number of full fiscal years of
the Participant's employment with the Company and/or an Affiliate). If a
Participant's employment terminates during the same fiscal year in which it
begins, then the bonus component of the Participant's Total Cash Compensation
will be the Participant's annualized target bonus for such year.

     3.   Administration.

     (a) The Committee. The Plan shall be administered by the Committee. Subject
to the provisions of the Plan, the Committee, acting in its sole and absolute
discretion, shall have full power and authority to interpret, construe and apply
the provisions of the Plan and to take such actions as it deems necessary or
appropriate in order to carry out the provisions of the Plan. A majority of the
members of the Committee will constitute a quorum. The Committee may act by the
vote of a majority of its members present at a meeting at which there is a
quorum or by unanimous written consent. The decision of the Committee as to any
disputed question, including questions of construction, interpretation and
administration of the Plan or any Plan Certificate, shall be final and
conclusive on all persons. The Committee shall keep a record of its proceedings
and acts and shall keep or cause to be kept such books and records as may be
necessary in connection with the proper administration of the Plan. The
Committee may delegate to other persons, including, without limitation,
employees of the Company or an Affiliate, such duties and functions as it deems
appropriate in connection with the administration of the Plan.

     (b) Indemnification. The Company shall indemnify and hold harmless each
member of the Committee and any employee or director of the Company or an
Affiliate to whom any duty or function relating to the administration of the
Plan is delegated from and against any loss, cost, liability (including any sum
paid in settlement of a claim with the approval of the Board), damage and
expense (including legal and other expenses incident thereto) arising out of

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or incurred in connection with the Plan, unless and except to the extent
attributable to such person's fraud or willful misconduct.

     4.   Participation.

          (a) Eligibility to Participate. Senior executive officers and other
key executive or management employees of the Company or an Affiliate are
eligible to become Participants in the Plan. An eligible employee will become a
Participant if (and only if) he or she is designated as a Participant by the
Committee.

          (b) Notice of Participation. The Company will provide written
notification to each eligible employee who is designated as a Participant in the
Plan. Subject to the provisions of the Plan, the Committee (or, where
applicable, the Board) will fix the terms and conditions of an individual's
participation in the Plan, which terms and conditions need not be the same for
each Participant. The terms and conditions applicable to a Participant will be
set forth in a separate Plan Certificate.

     5.   General Severance Protection. Subject to Section 9 (relating to
other agreements which may govern), the provisions of this Section 5 shall apply
upon the termination of a Participant's employment with the Company and its
Affiliates unless and except to the extent that Section 6 (relating to severance
protection upon termination of a Participant's employment in conjunction with a
Change in Control) specifically applies.

          (a) Termination by the Company or an Affiliate without Cause. If a
Participant's employment is terminated by the Company or an Affiliate without
Cause, then, subject to Section 10 (relating to the execution and delivery of a
release of claims), the Participant shall be entitled to receive the following
payments and benefits:

              (i) the Participant's Accrued Compensation;

              (ii) the Participant's Pro Rata Cash Bonus;

              (iii) an amount equal to the Participant's Total Cash Compensation
multiplied by 1.0 (or such greater multiplier, not to exceed 3.0, as may be set
forth in the Plan Certificate), which amount shall be payable to the Participant
in equal monthly or more frequent installments over a period of years equal in
number to the multiplier used to calculate such amount, or, if the Committee or
the Board so determines, in a single lump sum; and

              (iv) Benefit Continuation for a period of years equal in number to
the multiplier under Section 5(a)(iii).

          (b) Disability or Death. If a Participant's employment is terminated
by the Company or an Affiliate due to the Participant's Disability or if the
Participant's employment terminates by reason of death, then the Participant (or
the deceased Participant's beneficiary) shall be entitled to receive the
following payments and benefits:

              (i) the Participant's Accrued Compensation;

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              (ii) the Participant's Pro-Rata Cash Bonus; and

              (iii) Benefit Continuation for a period of years equal in number
to the multiplier under Section 5(a)(iii) (exclusive of life insurance for a
deceased Participant).

          (c) Termination by Company or an Affiliate for Cause or Voluntary
Termination by the Participant. If a Participant's employment is terminated by
the Company or an Affiliate for Cause or is voluntarily terminated by the
Participant (for any reason, including Good Reason, or no reason), the
Participant shall be entitled to receive his or her Accrued Compensation,
subject to set off for amounts owed by the Participant to the Company or an
Affiliate, and, except as otherwise specifically provided in his or her Plan
Certificate with respect to a termination by the Participant for Good Reason,
the Company and its Affiliates shall have no further obligation to the
Participant under the Plan.

     6. Termination in Conjunction with a Change in Control. Subject to Section
9 (relating to other agreements which may govern), if a Change in Control
occurs, the provisions of this Section 6 will apply with respect to the
termination of a Participant's employment during the period beginning on the
date of the definitive agreement pursuant to which the Change in Control is
consummated and ending on the second anniversary of the Change in Control. If a
Participant is entitled to receive payments and benefits under this Section 6
due to a termination of employment in conjunction with a subsequent Change in
Control and if, with respect to such termination of employment, the Participant
receives payments or benefits under Section 5, then the payments and benefits to
which the Participant is entitled under this Section 6 will be reduced by the
payments and benefits which the Participant has received under Section 5.

          (a) Termination by the Company or an Affiliate without Cause or by the
Participant for Good Reason. If a Participant's employment is terminated by the
Company or an Affiliate without Cause or by the Participant for Good Reason
(which, if so provided in his or her Plan Certificate, shall include a voluntary
termination by the Participant during a specified period following the Change in
Control), then, subject to Section 8 (relating to the avoidance of excise tax
liability) and Section 10 (relating to the execution and delivery of a release
of claims), the Participant shall be entitled to receive the following payments
and benefits:

              (i) the Participant's Accrued Compensation;

              (ii) the Participant's Pro-Rata Cash Bonus;

              (iii) an amount equal to the Participant's Total Cash Compensation
multiplied by 1.5 (or such greater multiplier not to exceed 3.0 as may be set
forth in the Plan Certificate), which amount shall be payable in a lump sum in
cash within 10 business days following the date of the Participant's termination
of employment or, if later, the date of the Change in Control;

              (iv) Benefit Continuation for a period of years equal in umber to
the multiplier under Section 6(a))(iii); and

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              (v) if and to the extent the Committee or the Board so determines,
accelerated vesting and other pension enhancements under the Company's
Supplemental Executive Benefit Pension Plan.

          (b) Disability or Death. If a Participant's employment is terminated
by the Company or an Affiliate due to the Participant's Disability, or if the
Participant's employment terminates by reason of death, then the Participant (or
the deceased Participant's beneficiary) shall be entitled to receive the
following payments and benefits:

              (i) the Participant's Accrued Compensation;

              (ii) the Participant's Pro-Rata Cash Bonus;

              (iii) Benefit Continuation for a period of years equal in number
to the multiplier under Section 6(a)(iii) (exclusive of life insurance for a
deceased Participant);

              (iv) if and to the extent the Committee or the Board so
determines, accelerated vesting and other benefit enhancements under the
Company's Supplemental Executive Benefit Pension Plan.

          (c) Termination by the Company or an Affiliate for Cause or
Termination by the Participant without Good Reason. If a Participant's
employment is terminated by the Company or an Affiliate for Cause or is
voluntarily terminated by the Participant without Good Reason (as modified by
Section 6(a) above), the Participant shall be entitled to receive his or her
Accrued Compensation through the date of termination, subject to set off for
amounts owed by the Participant to the Company or an Affiliate, and neither the
Company nor any Affiliate shall have any further obligation to the Participant
under the Plan.

     7. Effect of a Change in Control on Options and Other Equity-Based Awards.
All outstanding Company stock options and other Company equity-based awards held
by a Participant shall become fully vested immediately before the occurrence of
a Change in Control if (a) the Participant is then still employed by the Company
or an Affiliate; or (b) the Participant is entitled to payments and benefits
under Section 6(a) as a result of the termination of his or her employment
during the pre-Change in Control severance protection period described in
Section 6. If a Participant becomes vested in a stock option or other
equity-based award pursuant to part (b) of the preceding sentence, then, before
the Change in Control, the Company will either reinstate the option or award to
the extent it would otherwise not be vested, or make a cash payment to the
Participant equal to the intrinsic value of the non-vested portion of the option
or award based upon the then value per share of the Company's Common Stock. The
vesting and other terms and conditions of a Participant's stock options and
other equity-based awards will continue to govern except as otherwise
specifically provided by this Section 7.

     8. 280G Limitation. If a Participant is entitled to receive payments and
benefits under the Plan and if, when combined with the payments and benefits the
Participant is entitled to receive under any other plan, program or arrangement
of the Company or an Affiliate, the Participant would be subject to excise tax
under Section 4999 of the Code, then, unless and except to the extent the Board
approves a gross-up or other remedial provision set forth in the

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Participant's Plan Certificate, the severance amounts otherwise payable to the
Participant under Section 6 of the Plan will be reduced by the minimum amount
necessary to ensure that the Participant will not be subject to such excise tax.

     9. Effect of Other Agreements. Notwithstanding the provisions hereof or of
any Plan Certificate issued hereunder, the post-termination payment and benefit
provisions of a Participant's written employment or other agreement with the
Company or an Affiliate (if any) will govern (in lieu of the provisions hereof
or of such award) if and to the extent that, with respect to the Participant's
termination of employment, the provisions of such employment agreement would
provide greater payments or benefits to the Participant (or to the Participant's
covered dependents or beneficiaries). If any termination or severance payments
or benefits are made or provided to a Participant by the Company or any or its
Affiliates pursuant to a written employment or other agreement with the Company
or an Affiliate, such payments and benefits shall reduce the amount of the
comparable payments and benefits payable hereunder.

     10. Release of Claims. Notwithstanding anything herein to the contrary, the
Committee or the Board may condition severance payments or benefits otherwise
payable under the Plan to a Participant (or beneficiary of a deceased
Participant) on the Participant's (or beneficiary's) execution and delivery of a
general release in favor of the Company, its Affiliates and their officers,
directors and employees, in such form as the Board or the Committee may specify.
Any payment or benefit that is so conditioned may be deferred until the
expiration of the seven day revocation period prescribed by the Age
Discrimination in Employment Act of 1967, as amended, or any similar revocation
period in effect on the effective date of the termination of the Participant's
employment.

     11. No Duty to Mitigate/Set Off. Except as otherwise provided in the
Participant's employment or other agreement or in the Plan Certificate, a
Participant entitled to receive any payment or benefits hereunder shall not be
required to seek other employment or to attempt in any way to reduce any amounts
payable to him or her pursuant to the Plan and the payments and benefits payable
hereunder shall not be reduced by any compensation earned by the Participant as
a result of employment or consultancy with another person.

     12. Funding. The Plan shall be funded out of the general assets of the
Company as and when benefits are payable under the Plan. All Participants shall
be general unsecured creditors of the Company. If the Company decides in its
sole discretion to establish any advance accrued reserve on its books against
the future expense of benefits payable hereunder, or if the Company decides in
its sole discretion to fund a trust under the Plan, such reserve or trust shall
not under any circumstances be deemed to be an asset of the Plan.

     13. Amendment and Termination. The Board may amend or terminate the Plan
and, pursuant to its authority hereunder, the Board or the Committee may amend a
Participant's Plan Certificate, provided, however, that, any such action which
would have the effect of reducing or diminishing a Participant's entitlements
under the Plan or the Participant's Plan Certificate, as the case may be, shall
not be effective with respect to the Participant (a) if his or her employment
terminates before or within six months after the date such action is taken and
written notice thereof is furnished to the Participant, and/or (b) prior to the
second anniversary of a Change in Control if such action is taken (1) on the day
of or subsequent to the Change in Control, (2) prior

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to the Change in Control, but at the request of a third party participating
directly or indirectly in the Change in Control, or (3) otherwise in connection
with or in anticipation of the Change in Control.

     14. Successors and Beneficiaries.

         (a) Successors and Assigns of Company. The Company shall require any
successor or assignee, whether direct or indirect, by purchase, merger,
consolidation or otherwise, to all or substantially all the business or assets
of the Company, expressly and unconditionally to assume and agree to perform or
cause to be performed the Company's obligations under the Plan and each Plan
Certificate in the same manner and to the same extent that the Company would be
required to perform if no such succession or assignment had taken place. In any
such event, the term "Company," as used in the Plan and each Plan Certificate,
shall mean the Company, as defined above and any such successor or assignee.

         (b) Beneficiary of Deceased Participant. For the purposes hereof, a
deceased Participant's beneficiary will be the person or persons designated as
such in a written Plan beneficiary designation filed with the Committee, which
may be revoked or revised in the same manner at any time prior to the
Participant's death. In the absence of a properly filed written Plan beneficiary
designation or if no designated beneficiary survives the Participant, the
deceased Participant's estate will be deemed to be the Participant's beneficiary
hereunder.

     15. Miscellaneous.

         (a) Nonassignability. With the exception of a Participant's beneficiary
designation, no Participant or beneficiary may pledge, transfer or assign in any
way his or her right to receive payments under the Plan, and any attempted
pledge, transfer or assignment shall be void and of no force or effect.

         (b) Legal Fees to Enforce Rights after a Change in Control. If,
following a Change in Control, the Company fails to comply with any of its
obligations under the Plan or any Plan Certificate or the Company takes any
action to declare the Plan or any Plan Certificate void or unenforceable or
institutes any litigation or other legal action designed to deny, diminish or to
recover from any Participant (or a deceased Participant's beneficiary) the
payments and benefits intended to be provided, then such Participant (or
beneficiary, as the case may be) shall be entitled to retain counsel of his or
her choice at the expense of the Company to represent such Participant (or
beneficiary, as the case may be) in connection with the good faith initiation or
defense of any litigation or other legal action, whether by or against the
Company or any director, officer, stockholder or other person affiliated with
the Company or any successor thereto in any jurisdiction.

         (c) Not a Contract of Employment. The terms and conditions of the Plan
shall not be deemed to constitute a contract of employment between any
Participant and the Company or any of its Affiliates. Nothing in the Plan shall
be deemed to give any employee the right to be retained in the employ or other
service of the Company or any of its Affiliates or to interfere with the right
of the Company or any of its Affiliates to terminate his or her employment at
any time.

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         (d) Governing Law. Subject to the applicable provisions of ERISA, the
Plan shall be governed by the laws of the State of Delaware, excluding its
conflict of law rules.

         (e) Withholding. The Company and its Affiliates may withhold from any
and all amounts payable under the Plan such federal, state and local taxes as
may be required to be withheld pursuant to any applicable law or regulation.

                                        PULITZER INC.

                                       10<PAGE>
                                                                   EXHIBIT 10.44

                                  PULITZER INC.
                       ANNUAL INCENTIVE COMPENSATION PLAN

<PAGE>

                                TABLE OF CONTENTS
                                -----------------

<TABLE>
<CAPTION>
Section                                                                     Page
-------                                                                     ----
<C>        <S>                                                              <C>
  1        Purpose of the Plan                                                 1

  2        Definitions                                                       2-3

  3        Plan Administration                                               4-5

  4        Participants                                                        6

  5        Award Levels                                                        7

  6        Performance Components                                            8-9

  7        Communication of the Plan                                          10

  8        Payment of Awards                                               11-12

  9        Designation of Beneficiaries                                    13-14

  10       Amendment or Termination of the Plan                               15

  11       Miscellaneous Provisions                                           16

  12       Effective Date                                                     17
</TABLE>
<PAGE>

                                    SECTION 1

                               PURPOSE OF THE PLAN

The purpose of the Plan is to advance the interests of Pulitzer Inc. and its
subsidiaries by providing financial incentives in order to attract, retain and
motivate key employees.

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                                    SECTION 2

                                   DEFINITIONS

For purposes of the Plan, the following definitions shall control:

     2.1  "Beneficiary" means the beneficiary or beneficiaries designated in
          accordance with Section 9 hereof to receive the amount, if any,
          payable under the Plan upon the death of a participant.

     2.2  "Committee" means the Compensation Committee of the Board of Directors
          of the Company.

     2.3  "Company" means Pulitzer Inc.

     2.4  "Incentive Award" means an award made under this Plan.

     2.5  "Operating Cash Flow" means operating income before depreciation and
          amortization for any subsidiary or the Company consolidated.

     2.6  "Plan" means Pulitzer Inc. Annual Incentive Compensation Plan, as
          herein set forth and as hereafter amended from time to time.

     2.7  "Plan Year" means the Company's fiscal year.

     2.8  "President" means the President of the Company.

     2.9  "Subsidiary" means a corporation or LLC which is majority owned
          directly or indirectly by the Company.

     2.10 "Total Disability" means any Employee's complete and permanent

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          inability by reason of illness or accident to perform the duties of
          the occupation at which he was employed by the Company when such
          disability commenced, all as determined by the Committee. All
          determinations as to the date and extent of an Employee's disability
          shall be made by the Committee upon the basis of such evidence,
          including independent medical reports and data, as the Committee deems
          necessary and desirable, and all such determinations of the Committee
          shall be final and conclusive.

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                                    SECTION 3

                               PLAN ADMINISTRATION

     3.1  The Plan will be administered by the Committee which is authorized to
          interpret the Plan and to establish rules and regulations necessary
          for Plan administration. The decisions of the Committee shall be final
          and binding on all persons claiming any payments under the Plan.

     3.2  The Committee shall establish its own procedures and the time and
          place for its meetings and provide for the keeping of minutes of all
          meetings. A majority of the members of the Committee shall constitute
          a quorum for the transaction of business at a meeting of the
          Committee. Any action of the Committee may be taken upon the
          affirmative vote of a majority of the members of the Committee at a
          meeting or, at the direction of its chairman, without a meeting,
          provided that all members of the Committee are informed of their right
          to vote on the proposal and of the outcome of the vote thereon.

     3.3  No member of the Committee shall be personally liable by reason of any
          contract or other instrument executed by him or on his behalf in his
          capacity as a member of the Committee nor for any mistake of judgement
          made in good faith, and the Company shall indemnify and hold harmless
          each member of the Committee and each other officer, employee or
          director of the Company to whom any duty or power relating to the

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          administration or interpretation of the Plan has been delegated,
          against any cost or expense (including counsel fees) or liability
          (including any sum paid in settlement of a claim with the approval of
          the Committee) arising out of any act or omission to act in connection
          with the Plan, unless arising out of such person's own fraud or bad
          faith.

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                                    SECTION 4

                                  PARTICIPANTS

Participants will be selected by the Committee from among key employees working
at the Company or a Subsidiary who are in a position to make significant
contributions to the success of the Company or its Subsidiaries. The President
and Chief Executive Officer (CEO) shall recommend to the Committee, in writing,
the employees who are to be participants under the Plan for each Plan Year. In
extraordinary circumstances, at the President and CEO's discretion, participants
may be added to the Plan or removed from the Plan at any time during the Plan
Year.

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                                    SECTION 5

                                  AWARD LEVELS

The President and CEO shall recommend to the Committee the annual Incentive
Award potential for each participant which shall be earned if predetermined
performance components are met. Each participant shall be designated a target
bonus in terms of a percentage of base pay in effect at the beginning of the
Plan Year or the date of participation if not at the beginning of the year. The
target award level during any Plan Year shall not exceed one-hundred percent
(100%) of such Participant's base salary. The target bonus for a participant who
commences participation after the beginning of a Plan Year shall be adjusted as
necessary to reflect the partial year of participation.

Each participant shall also be designated a minimum and a maximum bonus
potential amount. The potential award levels shall become effective when they
are approved by the Committee. At the end of each Plan Year, the President and
CEO, will review the financial results of each Subsidiary and the Company in
order to determine whether extraordinary circumstances have occurred which
warrant an adjustment of results, which would, in turn, increase or decrease any
Incentive Award amount in order to maintain the equity, fairness and objective
of the Plan. Any adjustment will become effective upon the approval of the
Committee. Any adjustment of results for a Subsidiary shall be flowed through to
consolidated results for purposes of determining Incentive Awards based on
consolidated results.

                                       7
<PAGE>
                                    SECTION 6

                             PERFORMANCE COMPONENTS

     6.1  For each Plan Year the President and CEO shall recommend to the
          Committee the allocation of the potential Incentive Award for each
          participant (other than the President and CEO) between the performance
          components described below. The potential Incentive Award may be
          allocated 100% to either the Quantitative Component or Individual
          Component. The allocations (including the allocation for the President
          and CEO) shall become effective when they are approved by the
          Committee. In extraordinary circumstances, the President and CEO shall
          have discretion to modify the component allocation for a participant
          (other than for himself/herself) during a Plan Year.

     6.2  Quantitative: In general, Operating Cash Flow shall be used as the
          quantitative measure of the financial performance during a Plan Year
          of Subsidiary operations or the Company consolidated. If in certain
          situations Operating Cash Flow would not be an appropriate
          quantitative measure, other quantitative measures may be used.

          Individual Component: Performance objectives will be established for
          each participant. These objectives shall relate to the strategic
          objectives and/or special projects of the participant's employer or
          department. Individual objectives shall be weighted according to their
          importance to

                                       8
<PAGE>

          the participant's employer or department and the impact of a
          participant on their achievement.

                                       9
<PAGE>

                                    SECTION 7

                            COMMUNICATION OF THE PLAN

After Incentive Award levels and performance components are established as
described above, the President and CEO, or his designee, shall advise each
participant of the performance objectives to be met, the minimum, target, and
maximum Incentive Award levels, and the manner in which Incentive Awards will be
determined and paid.

                                       10
<PAGE>

                                    SECTION 8

                                PAYMENT OF AWARDS

     8.1  Incentive Awards shall be payable in cash as soon as practicable after
          the close of the Plan Year, subject to such deferred arrangement as
          may be required or permitted by the Company. At the option of the
          Company, partial payment of awards may be made prior to the end of the
          Plan Year based on estimated Incentive Award computations, with the
          balance, if any, payable as soon as practicable after the close of the
          Plan Year.

     8.2  In the event of a participant's death while working for the Company,
          or a Subsidiary that is part of the Plan, the participant shall earn a
          pro rata portion of his Incentive Award based on the time employed
          during the Plan Year prior to death. Any amounts to which such
          participant is entitled shall be paid as soon as practicable after the
          close of the Plan Year to the participant's Beneficiary or, in the
          absence of such designation, to his estate.

     8.3  The following provisions shall apply to the payment of Incentive
          Awards in the event of a participant's termination of employment with
          the Company or a Subsidiary of the Company that is part of the Plan:

                                       11
<PAGE>

          (a)  If termination is by reason of Total Disability, retirement or
               transfer to a Subsidiary of the Company that is not part of the
               Plan, the participant, subject to the President and CEO's
               approval, shall earn a pro rata portion of his Incentive Award
               based on the time employed during the Plan Year prior to
               termination of employment. Payment of the participant's Incentive
               Award shall be made as soon as practicable after the close of the
               Plan Year.

          (b)  If termination of employment is for any other reason,
               participation in the Plan shall cease and no Incentive Award will
               be payable.

          (c)  In the event a participant is removed from the Plan pursuant to
               Section 4, the participant shall earn a pro rata portion of his
               Incentive Award based on the time employed during the Plan Year
               prior to removal, except if the participant is removed for any
               act which in the Committee's opinion constitutes fraud,
               embezzlement, disclosure of confidential information or
               dishonesty then no Incentive Award will be payable. Payment of
               the Participant's Incentive Award shall be made as soon as
               practicable after the close of the Plan Year.

                                       12
<PAGE>

                                    SECTION 9

                          DESIGNATION OF BENEFICIARIES

     9.1  Each Participant may file with the Committee a written designation of
          one or more persons as the Beneficiary who shall be entitled to
          receive the amount, if any, payable under the Plan upon his death. A
          Participant may, from time to time, revoke or change his Beneficiary
          designation without the consent of any prior Beneficiary by filing a
          new designation with the Committee. The last such designation received
          by the Committee shall be controlling; provided, however, that no
          designation, or change or revocation thereof, shall be effective
          unless received by the Committee prior to the Participant's death, and
          in no event shall it be effective as of a date prior to such receipt.

     9.2  If no Beneficiary designation is in effect at the time of a
          Participant's death, or if no designated Beneficiary survives the
          Participant, or if such designation conflicts with law, the
          Participant's estate shall be deemed to have been designated his
          Beneficiary and shall receive the payment of the amount, if any,
          payable under the Plan upon his death. If the Company is in doubt as
          to the right of any person to receive such amount, the Company may
          retain such amount, without liability for any interest thereon, until
          the rights thereto are determined, or the Company may pay such amount
          into any court of appropriate jurisdiction and such

                                       13
<PAGE>

          payment shall be a complete discharge of the liability of the Plan and
          the Company therefor.

                                       14
<PAGE>

                                   SECTION 10

                      AMENDMENT OR TERMINATION OF THE PLAN

The Board reserves the right at any time to amend, suspend or terminate the Plan
in whole or in part and for any reason and without the consent of any
Participant or Beneficiary; provided, however, that no such amendment shall
adversely affect rights to receive any amount to which Participants or
Beneficiaries have become entitled prior to such amendment.

                                       15
<PAGE>

                                   SECTION 11

                            MISCELLANEOUS PROVISIONS

No provision of the Plan or any document describing the Plan or establishing
rules or regulations regarding the Plan's administration shall be deemed to
confer on any Participant or employee the right to continue in the Company's or
any Subsidiary's employ or to affect the right of the Company or a Subsidiary to
terminate any person's employment. The Plan shall not be treated as an employee
benefit plan within the meaning of Title I of the Employee Retirement Income
Security Act of 1974, as amended. Neither the Company nor any Subsidiary shall
establish any fund to pay Incentive Awards, and no participant or any other
person shall have any right to any specific assets or funds of the Company or a
Subsidiary to satisfy the payment of an Incentive Award.

                                       16
<PAGE>

                                   SECTION 12

                                 EFFECTIVE DATE

The Plan will be effective for the Plan Year commencing January 1, 2001 and
shall continue in effect until terminated by the Board of Directors of the
Company. Subject to the approval of the Board of Directors of the Company, the
Plan may be amended at any time by the Committee. This Plan replaces the
Newspaper Operations Annual Incentive Plan, as amended, adopted in January 1988
and the Company's Annual Incentive Compensation Plan, as amended, adopted in
August 1986.

                                       17

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