WASHINGTON, March 13 (UPI) -- The union that represents Knight-Ridder Inc. journalists says it wants a "worker-friendly" buyout of papers whose workers it represents.
Linda Foley, head of the Newspaper Guild-CWA, said she plans to monitor plans by McClatchy Co., which said Monday it is buying KRI, to sell 12 of KRI's newspapers.
"From the start, our goal has been to facilitate a worker-friendly buyout of these newspapers that have a combined employment of approximately 7,000 and a combined daily circulation of 1.3 million," she said.
"While we have been focused on the TNG-CWA unionized papers, our team will consider the entire package of 12 papers. Today's announcement by McClatchy Co. does not change our commitment to pursuing our goal. We believe that our team is a viable and credible acquirer of any and all of the newspapers that McClatchy has indicated it intends to sell and we look forward to the opportunity to discuss our interest with McClatchy. Our effort enjoys the backing of the Yucaipa Companies of Los Angeles, one of the premier worker friendly funds in the nation, and the professional counsel of Duff & Phelps Securities LLC of Chicago and Ownership Associates of Cambridge, Mass.," she said.
