AKRON, Ohio -- A major deadline Tuesday night could spell the future of one of the state's major newspapers.

Bids are due Tuesday night from companies wanting to buy the Akron Beacon Journal and 11 other papers of the Knight Ridder Chain, which were recently purchased by McClatchy Co.

NewsChannel5's Brad Harvey reported that the mood among Beacon employees is one of great uncertainty. Employees and other community members will gather Tuesday evening for a rally in front of the Beacon Journal building.

Union representatives are flying in from around the country, and several local politicians will also be in attendance.

One of the companies interesting in bidding for the Beacon is Yucaipa, a Los Angeles-based investor group known for turning companies around and for being worker-friendly, Harvey reported.

It's the kind of company called for by a resolution of the Summit County Commission. Yucaipa would set up an employee stock ownership plan and may even name some union members to the board of directors.

Other prospective buyers include Media News Group, Gannett and Lee Enterprises.

A final decision on the buyout isn't expected until summer.