1.   Four Boston area hospitals and a newspaper publishing company are also involved in the project.

2.   Although virtually all newspaper companies in Japan are privately owned, the owners do not typically participate in management or in making editorial policy.

3.   Among other newspaper companies, Fine at Merrill Lynch is especially optimistic about Times Mirror Co., Tribune Co., and Knight-Ridder Co.

4.   Analysts have noted that Wall Street remains concerned about future earnings for newspaper companies, which face increased competition for advertising, and rising prices for newsprint.

5.   And Wall Street, in recent years, has frowned on newspaper companies that make expensive acquisitions.

6.   As a result, the earnings of most big newspaper companies are improving.

7.   As a result, Times Mirror currently has the lowest return on equity of any publicly held newspaper company.

8.   A few newspaper companies were permitted to keep their stations in some larger cities under a grandfather clause.

9.   A genial man with a sharp business mind, Russell called on his training as an accountant and lawyer in serving the newspaper company.

10.   After two years of lackluster results, newspaper companies are reaping the results of improved advertising and lower paper prices.