The Miami News will be shut down by the end of the year unless a new owner can be found, Cox Enterprises said Saturday.

"Quite simply, The Miami News, despite an outstanding editorial presentation, is not supported by advertisers or readers," said David Easterly, president of the Cox newspaper division."Daily circulation has declined from 112,000 in 1966 to below 48,000 today while Dade County households have grown by 80 percent in the same period. This means that The Miami News now serves fewer than 8 percent of Dade County households."

The Miami News has had a joint operating agreement with The Miami Herald, owned by Knight-Ridder Inc., since 1966.