THURSDAY, DECEMBER 22, 2005
Romenesko Misc.
The Newspaper Guild has retained two advisory firms to help it pursue a "worker friendly" buyout of certain Knight Ridder newspapers. "Standing still is not an option," says Guild president
Linda Foley. "Each of the 8 properties our advisory team has identified is profitable. We think there are solid business opportunities out there. We are going to go after those properties and we are going to attempt to persuade others in labor, management and the investment community to join us. We have formally requested that Knight Ridder open the process to include our bid."
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Foley admits to Joe Strupp that the likelihood of Knight Ridder considering a bid for only a portion of its properties, let alone accepting an offer, is slim.
(Editor & Publisher)Posted at 6:50:22 PM
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