Lawyers for MediaNews have agreed to hold off on completing the purchase of the Mercury News, Contra Costa Times and other Knight Ridder properties until a federal court hearing on Thursday, according to the Sacramento Bee. At the hearing, San Francisco businessman Clint Reilly will seek a temporary restraining order to delay the closing of the sale for 10 days. Reilly’s lawyer, Joe Alioto, said he is seeking the hearing because he was told by attorneys for MediaNews that the deal is about to be approved by the Justice Department. Reilly is arguing that MediaNews, which already owns eight dailies in the Bay Area, would violate antitrust laws if it were to acquire the Merc, CCTimes and other Knight Ridder papers. He also objects to Hearst Corp.’s financing of the deal, since it owns the Chronicle.

SF Press Club News

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