with that day's first edition of the Times, but were given the news, told to stop what they were doing and to leave the premises, making the Sunday, November 6, 1960 edition, the final ever for the Detroit Times. On Monday November 7, the day after reports of the sale began to surface, and the day after the unannounced final edition of the Times, The News and Hearst released a joint statement reporting the sale as a merger. The $10 million deal included the Times, its building, its presses, all physical assets, distribution rights and subscription lists. That same day, The News began showing the Times' masthead below theirs, displaying, "The Detroit News - including the best features from the Detroit Times," meaning that even as former Times workers were still trying to absorb the shock of the news they had just received that morning, Times subscribers would begin receiving deliveries of The News - featuring the Times masthead - later that afternoon. In reality, very few of the Times' staff were offered jobs with the "merged" paper, as it was no merger. The News had in fact, purchased the Times, closed it down in the middle of the night with no advance warning, locked down its building, and fired its employees. Many of the Times’ pressman, stereotypers, paper handlers, machinists, electricians and mailers were offered jobs printing The News. The News also offered all Times carriers jobs. The biggest names amongst the Times’ reporters were cherry-picked for positions with the expanding operations of The News, as well as the rival Detroit Free Press. About 400 of the Times’ Guild members, were sent scrambling for jobs at out-of-town papers, or left to find jobs in different industries. Hearst executives expressed "regret at leaving Detroit" after nearly 40 years, but said that, much like the current troubling era for print journalism, "the Times has been beset by the same basic problems confronting so many other metropolitan newspapers," and that circulation and advertising were not rising to match the cost of doing business. The Times had reportedly lost $10 million in the previous five years. The prevailing opinion of the sale was that the Hearst papers, who were in financial trouble, sold the Detroit Times because it was one of the few properties that anyone wanted to buy. On November 11, The News began using the Times' presses to help with its