The company had been owned by a local group, Philadelphia Newspapers L.L.C., but was purchased in a bankruptcy auction in April for $139 million. Philadelphia Media Network is owned by 16 financial institutions, including Angelo, Gordon & Co.; Alden Global Capital; and CIT Group.
The new owner has declined to say what it will do if contracts are not completed by the deadline. It has the right to walk away from the sale if contracts with the unions are not settled.
John Laigaie, president of Local 628, said he thought the drivers were most concerned about the new owners' intention to no longer fund all union pension plans.
Laigaie said he was uncertain where contract talks would go now.
Bob Hall, chief operating officer for the Philadelphia Media Network, said he, too, was unsure how negotiations would proceed, though the company expects to meet with the drivers Monday.
The drivers were one of two unions to reject contract offers over the weekend. The machinists, who represent about 44 employees, voted no to their contract offer Saturday.
Union employees who voted yes to contract offers over the weekend included the mailers, porters, security guards, and mechanics. Newspaper Guild Local 38010, which represents 515 reporters, editors, photographers, and designers, as well as some advertising, circulation, and finance employees, voted overwhelmingly last week to accept a three-year contract.
Unions representing the pressmen, paper handlers, and operating engineers are to vote Monday.
Contact staff writer Christopher K. Hepp at 215-854-2208 or chepp@phillynews.com.
