Knight Ridder has apparently knocked down a plan by leaders of the Newspaper Guild to buy nine of the chain's 32 newspapers, saying it does not want to break up its properties as part of a planned sale of the company, according to the San Francisco Chronicle.

The Chronicle on Wednesday reported that Knight Ridder spokesman Polk Laffoon had said such a sale would not occur. "There is no interest here in selling the company piecemeal," Laffoon told the Chronicle. "Knight Ridder is for sale, to the extent it is for sale, as a whole and not as a piecemeal thing.''

The Guild announced its proposal last week in reaction to Knight Ridder's decision last month to seek a buyer. That action followed demands from its largest shareholders that the "undervalued" company be sold.

Guild leaders said they had retained two advisory firms — Duff & Phelps Securities, LLC, of Chicago and Ownership Associates, Inc. of Cambridge, MA — to "work with the union to attempt a 'worker friendly' buyout of certain properties of the Knight Ridder newspaper chain."

Guild officials had hoped to bring together investors to buy the nine Knight Ridder papers that are represented by the guild. Those include: the Philadelphia Daily News, Philadelphia Inquirer, San Jose Mercury News, St. Paul (Minn.) Pioneer Press, Akron (Oh) Beacon Journal, Duluth (Minn.) News Tribune, Lexington (Ky.) Herald-Leader, Monterey (Ca.) Herald, and the Grand Forks (N.D.) Herald.

"We are looking to partner with some equity firms and at least one has expressed interest," Foley said at the time. "We think we can change the whole dynamic here. We believe an employee bid will enhance the value of these properties. With employee involvement in a buyout, there are often tax advantages."

Foley could not be reached for comment Wednesday.