Newspaper publisher Pulitzer Inc. said Sunday that company officials are considering a possible sale of the firm to boost shareholder value.
The company said in a statement that no decisions have been made and no agreements have been reached. Pulitzer said it has retained Goldman, Sachs & Co. as a financial adviser to assist in its review.
In October, the company, whose publications include the St. Louis Post-Dispatch and the Arizona Daily Star, reported a 13 percent increase in third-quarter earnings, citing growth in advertising sales.
Pulitzer earned $10.6 million, or 49 cents a share, for the three-month period ending Sept. 26, up from $9.4 million, or 43 cents per share, a year ago.
Decisions about the future of Pulitzer Inc. rest largely with members of the Pulitzer family because they own almost all of the controlling stock.
Word of the possible sale sent Pulitzer shares soaring $9.64 to $64.45 this morning on the New York Stock Exchange.