The company said The Star-Ledger, long the state's dominant newspaper, and The Times of Trenton would be sold as a package. It set an Oct. 1 deadline for the buyouts, including 25 at the Times, and for concessions from unions, The Star-Ledger reported.

"Despite the best efforts of all of us, The Star-Ledger is losing a battle to survive," George Arwady, the publisher said. "If the Ledger is to have a future, it must make further changes in how it operates."

For many years, the Star-Ledger was a cash cow, with a circulation bigger than the state's next three biggest papers combined and a steady stream of revenue from advertisers eager to reach the prosperous suburbs around Newark. In recent years, its editorial reputation has improved, with two Pulitzer Prizes to its credit.

The Star-Ledger has a staff of 1,412.

Advance announced this week that Newhouse News Service, which supplies Washington coverage for its papers, would be sold or closed after the November election.