Employee Stock Plan May Be Offered at 2 Newspapers
A company that owns a majority interest in the Camarillo Daily News and 50% of the Enterprise in Simi Valley said it is considering starting an employee stock ownership plan under which an employee profit-sharing trust could purchase some or all of the newspaper company.
Details of any such stock purchases were not available.
The newspapers’ parent company, Harris Enterprises in Hutchinson, Kan., said it was considering the plan because the will of one of the company’s founders, Sidney Harris, stipulates that before the stock in his estate can be sold, it has to be offered to the profit-sharing trust.
Harris Enterprises owns a majority interest in 10 newspapers and 50% of two others.