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Article: Philadelphia Publisher Confirms Interest in Bidding for Dow Jones
- Article from:
- The Washington Post
- Article date:
- June 8, 2007
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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When Philadelphia Inquirer and Philadelphia Daily News publisher
Brian Tierney confirmed yesterday that he is interested in bidding
for the Wall Street Journal and parent company Dow Jones, newsroom
reaction ranged from disbelief to outright sarcasm.
Tierney, a Philadelphia public-relations man, bought the two
newspapers for $562 million from the McClatchy newspaper chain in
June 2006 after it swallowed the Knight Ridder newspapers three
months earlier.
At the time of the purchase, Tierney promised no drastic cuts but
soon realized the enormous costs of running declining large city
dailies. He has been locked in a battle with the newspapers' unions
ever since as well as narrowly averted a ...