The sale of the San Jose Mercury News has prompted San Jose Guild leader Luther Jackson to call an emergency meeting at 6 tonight (April 27) to review the ramifications of the deal. The Guild is concerned that one company will now control most of the newspapers in the Bay Area outside of San Francisco. The Guild’s leadership is also upset that billionaire Ron Burkle’s Yucaipa Companies — which wanted to bid on the 12 Knight Ridder newspapers up for sale on behalf of the Guild — did not get to examine the paper’s books in order to make an informed bid. “This raises questions about the fairness and transparency of the sale process, about whether that process satisfies McClatchy’s fiduciary obligations to shareholders, and about the commitment to seek a buyer that will represent the journalistic excellence of all 12 papers,” said Jackson in a statement. The guild’s leadership said it’s considering a “range of options including outreach to governmental agencies responsible for regulating corporate ownership and governance issues as well as unspecified collective actions.” Tonight’s (April 27) meeting is at 6 at the IBEW Electrical Apprenticeship Training Center, 908 Bern Court (Palm Orchard Business Park), a two-minute drive from the Merc on Oakland Road.

SF Press Club News

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