PHILADELPHIA—Creditors poised to take over Philadelphia's two major newspapers are inching closer to a sale with members of one holdout union voting to approve a contract offer and two others set to vote Sunday.
A U.S. judge has given creditors until Sept. 14 to wrap up the thorny, 18-month bankruptcy sale of The Philadelphia Inquirer and Philadelphia Daily News. Chief Operating Officer Bob Hall says creditors won't close the deal without signed contracts from the company's approximately 15 unions.
The president of the press operators' union, Joseph Inemer, says members voted 48-28 Tuesday to ratify the contract. They had rejected an earlier offer. The union representing machinists, who also turned down a previous offer, are to vote Sunday on a contract. So will Teamster drivers, who have balked at moving from a defined pension to a 401(k) plan.
Waiting for Twitter to feed in the latest...