Word: allbritton
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...Allbritton could be a devil for its unions...
Last week the Tribune Co. confirmed the bidders' judgment: it decided to keep the building and give the paper away. The prospective new owner is Joe L. Allbritton, 57, a compact (5 ft. 4 in.), Mississippi-born wheeler-dealer whose properties have included Texas banks, California mortuaries, British hotel stock, several TV and radio stations and, from 1974 until he sold it to Time Inc. in 1978, the Washington Star, which ceased publication in August...
...Allbritton will not have to put up a cent to acquire the News. What is more, he has 30 days to back out, without obligation, if he cannot reach "satisfactory" payroll-cutting agreements with the eleven unions at the News. Further, the Tribune Co. will have to cover potential tens of millions of dollars in pension and severance obligations for all employees who are laid off during the 30-day transfer period, though that will cost less than an outright closure. As part of the deal, Allbritton will get the News's presses, trucks and two printing plants...
...bargaining hurdles are daunting, and there is a significant chance that the deal could fail. Allbritton must achieve concessions from each union individually-eleven negotiations in 30 days. Moreover, for every job the unions agree to sacrifice at the News, they could lose two more. Under existing contracts, the New York Post and the New York Times have the right to concessions matching whatever relief is granted to the News. The management of the Post, which reported losses of $12 million last year, says it will exercise its option; the Times has indicated that if the Post gets concessions...
...Allbritton has been at the center of a debate about editorial integrity since buying the Trenton Times last year from the Washington Post Co. On his first day he fired 24 of the 80 editorial employees. In February, the Philadelphia Inquirer reported that the Trenton Times "agreed to publish a news story in exchange for a $400 advertisement" from an auto-parts company. Less than a week later, the Times fired Reporter John Chester for disobeying orders to process a local department store's press release, word for word, as a news story. Allbritton later apologized in an editorial...