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According to an obituary for owner Pierre Peladeau in the New York Times, the venture lost $15 million. A United Press International article, published when the tabloid ceased publication, cited its circulation at that time as 105,000.
According to the Associated Press wire service, the decision to close the paper followed the unions'[which?] rejection of management's demand to save $3 million annually by laying off 43 of the 157 employees, and wage concessions. Quebecor, the paper's owner, intended to convert the tabloid to an all-sports format if the savings were realized.
Originally, Peledeau told Time Magazine he hoped to expand his sensationalist, sports-oriented paper to other cities, such as Atlanta, Boston, Detroit and Los Angeles but none of this came about.(subscription required)
About a month after the Journal ceased publishing, the Philadelphia Bulletin also ceased publication, leaving the city with only one newspaper owner and two titles—The Philadelphia Inquirer and the Philadelphia Daily News.
- "The Prescott Courier - Google News Archive Search".
- "Philadelphia Journal Dead, Its Owner Says". 18 December 1981.
- "Press: Hoagie City Hero". TIME.com. 19 December 1977.
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