A bankruptcy judge is set to confirm the sale of The Philadelphia Inquirer and Philadelphia Daily News to creditors at a Thursday afternoon hearing.
But the incoming owners tell the Inquirer that unionized delivery drivers and mailers have not signed contracts and pose a strike risk that could force them to shut the company down.
The senior lenders bid about $139 million for the company, including $105 million cash plus real estate.
The company has been mired in bankruptcy since February 2009.
Calls to company and union officials were not immediately returned Thursday.