A day after Moody’s downgraded MediaNews Group, citing its “substantial”risk of default, CEO Dean Singleton today asked unions representing the Denver Post and the Denver Newspaper Agency to “reopen their labor contracts immediately” in an effort to cut costs by $20 million. Jeff Smith at the Rocky Mountain News reported that Singleton would seek concessions of $2 million from the Post and $18 million from newspaper agency.
And that wasn’t the only bad news for MediaNews Group today. The Wall Street Journal reported that the MediaNews Group-owned Detroit News has joined the Gannett-owned Detroit Free Press in considering cutting home delivery of the papers to three days per week. The remaining four days would be available only via newsstands.