Business Journal: McClatchy Sale Challenged

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(Sacramento, CA)
Thursday, April 27, 2006

The guild is suggesting there may be anti-trust implications were Media News to acquire three papers in San Jose, Contra Costa and Monterey from the McClatchy Corporation. Media News already owns other papers in California. McClatchy on Wednesday accepted their $1 billion offer for these and a midwestern newspaper, all properties of Knight Ridder, the chain McClatchy is buying. 

The Newspaper Guild Communications Workers of America had been bidding for these same newspaper and other, with an investment partner in Los Angeles. They won’t reveal what they’re offering to pay. On the first full day of trading after McClatchy’s announcement that Media News would buy these four newspapers, its stock fell 1%.