Tuesday, March 17, 2009

Tucson Citizen...A Temporary Reprieve

A late story (on line) in the Tucson Citizen reports that the scheduled March 21st closing of the Citizen has been delayed while negotiations with two prospective buyers continue.

Renee Horton’s  article on the Tucson Citizen’s web site gives all the details that are available .

Pure speculation: The announcement that the Seattle Post Intelligencer was going all digital may have moved Gannett to drop the “no digital” barrier to sales. Who knows? 


Tucson Writer said...

This is just a sick trick by Gannett. Forcing people to stick around by holding the carrot of severance over their heads.
Gannett: Evil Suits.

Art Jacobson said...

Tucson Writer-

I have nothing but sympathy for the folks at the Citizen, who have soldiered on at their jobs in the face of looming disaster.

It's been very hard to get clear about the legal aspects of this deal. In particular it's been hard to get clear about the status of the JOA. Gannett wants to continue owning a piece of TNI, if not as a JOA then as simple partnership.

Do you happen to know whether Gannett gets out of paying severance pay if it cobbles together a sales deal of some sort?