The owner of the Philadelphia Inquirer and Daily News told the Newspaper Guild that it would consider liquidating or selling the company if a new agreement is not reached by January 18. The Guild represents about 550 employees of the company, which bought the two papers in April. The company is also offering a buyout for some employees in order to reduce costs. The Guild said that the company wanted to reopen the contract, which will expire in October, in order to cut $8 million in wages and benefits.
See "Papers' owner warns Guild of possible liquidation or sale if contracts not reached", Mike Armstrong, The Philadelphia Inquirer, January 13, 2013