The embattled Star-Ledger, New Jersey's largest circulation daily paper, might be saved after all. The paper's management and the union responsible for delivering it are getting close to an agreement that would keep the Star-Ledger in print beyond January.

Doug Panattieri, representing the union, and Donald Newhouse, president of Advance Publications, both told the New York Post that a deal was likely to come before the October 7th deadline.

Management says that additional cost-cutting measures will still be needed even if a deal is reached. The paper is said to be losing between $35 and $40 million a year.