The owner of The Miami News has reached an agreement in principle to sell the 93-year-old daily newspaper, which is scheduled to shut down Dec. 31, the paper reported Saturday. Cox Enterprises has ``conceptually agreed'' to an amended offer from an out-of-state investor group. Cox hopes to close the deal before its self-imposed Dec. 31 deadline for selling the paper or folding it, a Cox official said. Cox might consider keeping the paper open for a short time after Dec. 31 if a deal appears imminent, said David Easterly, president of the Atlanta-based Cox Newspapers division. ``We have conceptually agreed to what was submitted _ we did that (Friday) _ and the next move is up to the bidder,'' Easterly said. ``There has been no contract signed and no earnest money put forward. ... There is a lot still to be done. We are trying to get this bidder to come in and make a deal.'' Easterly would not discuss details of the amended offer. Friday's developments came a day after the U.S. Department of Justice said it is investigating whether the planned closing of The News violates antitrust laws. Easterly said the impending probe had no effect on the negotiations. Easterly confirmed that a different offer was received late Wednesday from the sole active bidder. Easterly declined to identify the bidder, but Chicago newspaper consultant John R. Malone said recently that it's an investor group he represents. On Oct. 14, Cox officials announced that The News would be closed by next Saturday if it were not sold. They cited financial and circulation losses. Under a joint operating agreement signed in 1966 with The Miami Herald Publishing Co., The News' printing, circulation, advertising and promotion services are provided by The Herald. The Justice Department probe centers on whether an amendment to the agreement, which would allow Cox to close or sell The News now _ nine years before the original pact was to expire _ and continue collecting a share of Herald profits for the next 33 years, violates antitrust laws. Facilities being offered for sale by Cox include the newspaper's name, subscription list and some newsroom equipment. Since the agreement with The Herald went into effect, The News' circulation has declined from 112,000 to 48,000, Cox officials said.
