Yucaipa Bid to Acquire Former Knight Ridder Newspapers Enlists Respected Editorial Veteran James Nau

Contact: Candice Johnson, CWA Communications, 202-434-1168, 202-415-6566 (cell) cjohnson@cwa-union.org, or Frank Quintero for The Yucaipa Companies, 310-228-2895

Los Angeles -- The Yucaipa Companies, LLC announced today that it has retained the services of James M. Naughton, retired President of the Poynter Institute for Media Studies, past Executive Editor of the Philadelphia Inquirer and former correspondent with the New York Times, to act as a senior news and editorial advisor to Yucaipa in relation to its efforts to acquire certain newspaper properties from the Knight Ridder Corporation and the McClatchy Co.

TNG-CWA President Linda Foley said the announcement is very exciting news that further enhances the Yucaipa bid for 12 Knight Ridder newspapers. "The experience of Jim Naughton and his interest in being a part of this effort speaks to the strength and seriousness of the proposal."

"Journalists and other workers at these newspapers know that quality reporting and local voice are critical to the readers and communities they serve. We are pleased that Yucaipa brought Jim Naughton on board because he shares that commitment to the highest standards of journalism and to ensuring that these newspapers continue and thrive," she said.      

Frank Quintero, Yucaipa spokesman said, "We are pleased to have the expertise of a newspaper executive of Jim Naughton's caliber join our team. Jim Naughton's recognized expertise in the editorial world is an excellent complement to the counsel we are presently receiving from Robert Hall, past publisher of the Philadelphia Inquirer, on the operational and publishing side of the business.  The new company we are attempting to launch must stand out not only as a profitable and efficient business but also as a leader in editorial content.  As the past president of the Poynter Institute, widely recognized as the leading think tank advising the newspaper industry, we are confident that Jim Naughton's expertise will help us to assemble top notch editorial talent we will need to lead this venture." 

Henry Holcomb, president of the Newspaper Guild of Greater Philadelphia and president of the TNG-CWA Knight Ridder Council, called Naughton "one of the nation's most innovative and skilled editors, an effective advocate for the principles and practices that enable journalists to serve the readers and earn their trust."

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TNG-CWA represents 35,000 journalists, newspaper and broadcast workers in the United States, Canada and Puerto Rico. CWA represents 700,000 workers in communications and technology, media and broadcasting, airlines, public employment, health care and higher education and manufacturing.

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.