Around the Net

Newspapers' Staffers Hope To Buy Former Knight Ridder Papers

  • Reuters, Tuesday, March 21, 2006 11:15 AM
What to do if you're an employee of a Knight Ridder newspaper that's been sold to the McClatchy Company and McClatchy has already announced that your paper is one of those it plans to dispose of? You might try joining with other employees to purchase your paper. That's exactly what's happening at a number of properties that will soon be on the market--again. "Union representatives from those papers on Monday released a statement that said workers had an 'unprecedented opportunity to have a direct voice' in [the] outcome of the sale by joining with buyout firm The Yucaipa Companies to create an employee-owned company," reports Reuters. Yucaipa is a California-based company investment outfit owned by grocery-story magnate Ron Burkle. According to Reuters, the papers' employees are not assured a clear shot at buying their papers, as outside investors may materialize in some of the affected markets.

advertisement

advertisement

Read the whole story at Reuters »

Next story loading loading..