The Philadelphia Newspaper Guild, which represents more than 500 employees at the company, filed a petition to intervene today in their parent company’s ongoing ownership dispute.
A status hearing took place this morning at which attorney Lisa Lori appeared, representing the Guild. “The Guild has seen nothing but pay cuts [in recent years]” she said afterward. “Unpaid furloughs. … They want an equity stake.”
Lori would not comment on who the Guild might have contacted to act as a third-party buyer, but did confirm that there have been discussions.
The current ownership struggle figures to go on for many months. Late on Friday, a hearing was hurriedly scheduled for today on co-owner Lewis Katz's petition to dissolve the company that owns the Inquirer, Daily News and philly.com, and subject the media properties to a public auction. Katz's opponent in the ownership struggle, George Norcross III, has requested that an auction be restricted solely to current owners.
Lori, representing the Guild, said that the union would like to take part in any auction that occurs.
Judge Patricia McInerney quickly declared from the bench that today's proceedings should revolve strictly around scheduling, with written briefs filed by both sides by the end of the month.
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