McClatchy Co. argues in court papers that delaying the sale of the Mercury News, Contra Costa Times and other newspapers to Media News would create more debt and possibly spark labor problems, according to the AP. Patrick Talamantes, McClatchy’s chief financial officer, estimated in a sworn statement that McClatchy would lose $163,000 a day if federal judge Susan Illston blocks the sale. He also warned that a delay could prevoke labor strife at the San Jose paper, where contracts covering about 600 workers expired June 30. A hearing on a request by San Francisco businessman Clint Reilly for a temporary restraining order to stop the sale is set for 2 p.m. Thursday (July 27) before Judge Susan Illston in U.S. District Court in San Francisco.
McClatchy fears labor strife if sale is delayed
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