Philly newspapers reach deal with union

Philadelphia’s two daily newspapers will continue to print for the next two years, but with a price.

The Philadelphia Media Network, publisher of the Philadelphia Inquirer and Daily News, hammered out a deal with its union Thursday that will keep the print editions going through 2014.

In return, the Newspaper Guild agreed to a 2.5 percent pay cut in each of the next two years, as well as a two-week furlough each year.

The contract goes up for a vote with union members this week and is expected to pass. In addition to guaranteeing the continuation of both print editions, the contract promises no layoffs during its first year.

The two papers were bought by a group of local business and political leaders last year, and during the contentious negotiations with the union, the group threatened to put the papers up for sale again.

Had that happened, there was no guarantee both would survive, not at a time when newspapers are shuttering or going online only as advertising revenue continues to fall.

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