- Associated Press - Tuesday, July 28, 2015

PHILADELPHIA (AP) - The company that owns The Philadelphia Inquirer and Philadelphia Daily News is offering buyouts to news guild members with at least 25 years of experience.

Philadelphia Media Network says that about 170 people are eligible. They would get 40 weeks of pay and six months of health insurance.

Vice president Keith Black says the buyouts are part of the latest contract negotiated with the local Newspaper Guild.

He says the company does not have a target number of staff reductions in mind.

The company has changed hands and cut staff frequently in recent years amid industrywide declines. The current owner is local philanthropist H.F. “Gerry” Lenfest.

Guild president Howard Gensler says buyouts are better than layoffs. But the Daily News columnist says they still mean more work for fewer people.

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