Union representatives announced yesterday that workers from the 12 newspapers formerly under Knight Ridder and currently being sold by McClatchy Co. are continuing efforts to acquire the papers, writes Yahoo News.
McClatchy is selling the papers to help finance the $4.5 billion deal it settled with Knight Ridder Inc. earlier this month.
Union representatives from the papers said workers had an “unprecedented opportunity to have a direct voice” in the outcome of the sale by creating an employee-owned company through joining with buyout firm The Yucaipa Companies.
“Employee-ownership offers us a chance to create a place where employees want to work and invest,” said the Newspaper Guild-CWA’s statement adopted during a meeting on March 18.
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