TNG-CWA Applauds Naming of Robert Hall as Senior Management Advisor in The Yucaipa Companies' Bid fo

Washington, D.C. -- Following is a statement by TNG-CWA President Linda Foley on the announcement by The Yucaipa Companies that it has retained the services of Mr. Robert Hall, past publisher of the Philadelphia Inquirer and Daily News, to act as a senior management advisor to Yucaipa in its efforts to acquire certain newspaper properties from the Knight Ridder Corp. and the McClatchy Co.

"The Guild is extremely pleased that Bob Hall has joined this effort.  His varied experience in the newspaper industry will enhance the ability of ValuePlus Media to manage these newspapers in a way that will both increase their value and provide a valuable service to the communities they serve.  Bob's experience in dealing directly with employees and unions will ensure that everyone involved in this effort will have the ability to make it a success."

"This is the first of many times that ValuePlus Media will hire serious executives who have a track record for treating customers and employees right. Bob's decision to join this effort -- and the more than 40 senior executives who have already sent resumes -- clearly demonstrate that people who know this business see the importance of this effort to the newspaper industry and the communities it serves."

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The full statement from The Yucaipa Companies follows:

The Yucaipa Companies Enlist Publishing Veteran in Newspaper Bid

Los Angeles, March 22 -- The Yucaipa Companies, LLC announced today that it has retained the services of Mr. Robert Hall, past publisher of the Philadelphia Inquirer and Daily News, to act as a senior management advisor to Yucaipa in relation to its efforts to acquire certain newspaper properties from the Knight Ridder Corporation and the McClatchy Corporation.

Frank Quintero, Yucaipa spokesman said, "We are pleased to have the expertise of a newspaper executive of Bob Hall's caliber.  Mr. Hall served as publisher of the Philadelphia Inquirer and Daily News during the most profitable eras in the history of those two papers from 1990 through 2003. Mr. Hall also enjoys positive relationships with newspaper industry union groups, including The Newspaper Guild-CWA and the Teamsters Union.  Those relationships are integral to the 'worker friendly' bid we are submitting to McClatchy and their financial advisors."

Robert Hall said, "I am pleased to join Yucaipa in this important effort to acquire a national network of newspapers.  This is a time of change in the newspaper industry.  I am confident that the combination of Yucaipa's financial strength and expertise and the talents of both union and non-union employees of each of these papers can create an innovative new media company that excels in both print and digital platforms.

I have long been an advocate of labor management cooperation.  The structure being contemplated in this case that combines private equity ownership with a degree of employee ownership is entirely consistent with a cooperative approach.  I believe that there are strong business opportunities to be realized in what others have referred to as 'slow growth' markets.  These are not just markets.  They are also communities that will continue to grow and continue to need strong newspapers.  I look forward to helping to close this deal."

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About The Yucaipa Companies

The Yucaipa Companies is a premier private equity investment firm that has established a record of fostering economic value through the growth and responsible development of companies.  Since its founding in 1986, the firm has completed mergers and acquisitions valued at more than $30 billion.  As an investor, Yucaipa works with management to strategically reposition businesses and implement operational improvements, resulting in value creation for investors.

Contact:  Frank Quintero of The Yucaipa Companies, LLC, 310-228-2895; or Robert Hall, 215-870-4500, for The Yucaipa Companies, LLC.

About TNG-CWA

TNG-CWA represents 35,000 journalists and newspaper workers in the United States, Canada and Puerto Rico. CWA represents 700,000 workers in high tech and telecommunications; media, broadcasting, and publishing; health care, higher education and public service; the airline industry and manufacturing.