by: Elizabeth Fiedler | Newsworks

The owners of Philadelphia's two major newspaper are threatening to liquidate the Inquirer and Daily News, according to a newspaper union official, unless the company gets major concessions in the next week.

Dan Gross, president of the Newspaper Guild of Greater Philadelphia, said Interstate General Media (the papers' parent company) says if it doesn't have tentative agreements reached with all of its labor unions by Friday, Jan. 18, it will begin to liquidate the assets of the company.