McClatchy Accepts Bids for 12 Newspapers
An AP newswire article by Michale Liedtke, via SFGate.com, reports that:
The McClatchy Co. on Tuesday accepted offers for 12 newspapers that it doesn't want to keep after its $4.5 billion takeover of fellow publisher Knight Ridder Inc., kicking off an auction that could last several months.More here.
The Newspaper Guild-CWA, a union that represents workers at most of the affected papers, confirmed it submitted a bid for all 12, which include the San Jose Mercury News and the Philadelphia Inquirer. The union's bid is being backed by the Yucaipa Cos., an investment firm run by billionaire Ron Burkle.
posted by Fergie @ 3/28/2006 04:17:00 PM
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