May 24, 2006

The Great Philly Newspaper Sale, Cont'd

Looks like I get to keep my job:

Philadelphia Media Holdings L.L.C. will pay $515 million in cash - most of it borrowed from banks - to Knight Ridder's successor, the McClatchy Co., and assume $47 million in pension liabilities, to take over The Inquirer, the Philadelphia Daily News,, and related publications and Web sites... [New publisher Brian] Tierney said the investors intended to continue publishing the Daily News, and would honor labor agreements and had no plans for job cuts.
My paper, the Trend Leader, is one of those "related publications."

Also, my managing editor asked Tierney about the status of our paper in a press conference yesterday and Tierney... had heard of it, and praised it! That's a good sign.

Posted by Stephen Silver at May 24, 2006 04:56 PM
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