Newspaper Guild Issues Statement on Philly Sale

By: E&P Staff The following statement by The Newspaper Guild-CWA, based in Washingotn, D.C., on the announcement by the McClatchy Co. on the sale of the Philadelphia Inquirer and Philadelphia Daily News was released Tuesday evening. The Guild had joined in an effort by the Yucaipa investors to purchase the two papers.

It follows.

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In late 2005, The Newspaper-Guild-CWA and its advisors recruited The Yucaipa Companies of Los Angeles to enter the sale process on behalf of its members at twelve former Knight Ridder newspapers, including the Philadelphia papers.

Commenting on today's developments, Newspaper Guild Secretary-Treasurer Bernie Lunzer stated: "We look forward to continued discussions with Yucaipa and our advisors regarding the final disposition of these Philadelphia properties. We remain committed to working with Yucaipa and our advisors to pursue a possible "worker friendly" purchase of former Knight Ridder newspapers that have yet to be sold as well as any additional newspaper properties around the United States that may be coming to the marketplace."

Lunzer continued: "The original motives that prompted the Newspaper Guild-CWA to join the sale process remain intact. We are intent on promoting new "worker friendly" models for ownership and control in the newspaper industry that will preserve quality journalism and combat an environment that remains overly concentrated and driven by strict financial values.

Philadelphia Media Holdings should understand that Knight Ridder has already made substantial cuts in staffing and operations, and that profitability and quality cannot be regained through additional diminishment of the enterprise and its employees. The papers must enter a period of reinvestment, and a shared, common effort. Everyone needs to be respected in that process, especially the community of Philadelphia."

Henry J. Holcomb, president of the Newspaper Guild of Greater Philadelphia and TNG's Knight Ridder Council said it was very important "to have a buyer who has pledged to rebuild our two newspapers and online services and offer the Philadelphia region the high quality and reliable service it deserves and needs at this critical time in its history."