The owner of The St. Petersburg Times put its Congressional Quarterly subsidiary up for sale on Wednesday, trying to separate the most profitable part of the business from the more troubled flagship newspaper.
Executives of the parent company, the Times Publishing Company, said that with the financial crisis in the newspaper business hitting Florida markets especially hard, it no longer had the resources to keep expanding Congressional Quarterly Inc. A sale would also generate cash to help shore up The St. Petersburg Times newspaper.
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