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New Century Network Closes Down

New Century Network, an online venture of major newspapers, announced today it is closing its operations by the end of March.

Sources report that the board members decided to shut down NCN due to the fact that the board was not seeing a significant return on its investments, and could not agree on a common business plan.

Last month the company announced a business strategy that would focus the company's efforts on establishing an advertising network across its more than 140 newspaper affiliate Web sites. Although NCN was signing on advertisiers, the board still decided to close down the company.

Owners of the online newspaper consortium include Advance Publications, the New York Times Inc., the Tribune Co., Washington Post Co., Times-Mirror Co., Cox Newspapers Inc., Knight Ridder Inc., Hearst Corp. and Gannett Co.