Newspaper company meets its last deadline

Of the 32 newspapers owned by Knight Ridder, 20 will end up with McClatchy, which is selling 12 to help pay for the deal. Denver- based MediaNews has agreed to buy the Mercury News, Contra Costa Times, Monterey County Herald and the St. Paul, Minn., Pioneer Press, but antitrust regulators have not y...

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Bibliographic Details
Published inKnight Ridder Tribune Business News p. 1
Main Author Pete Carey and Chris O'Brien
Format Newsletter
LanguageEnglish
Published Washington Tribune Content Agency LLC 27.06.2006
Subjects
Acquisitions & mergers
Boards of directors
Chief executive officers
Institutional investments
Internet
Newspaper industry
Proxy solicitation
Pulitzer prizes
Regulatory approval
Shareholder voting
Stock prices
Stockholders
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Summary:Of the 32 newspapers owned by Knight Ridder, 20 will end up with McClatchy, which is selling 12 to help pay for the deal. Denver- based MediaNews has agreed to buy the Mercury News, Contra Costa Times, Monterey County Herald and the St. Paul, Minn., Pioneer Press, but antitrust regulators have not yet approved that complicated transaction. While McClatchy will take over Knight Ridder's place as the nation's second-largest newspaper company, MediaNews will become a major force in the Bay Area media landscape if regulators approve the sale of the Mercury News, Contra Costa Times and Monterey County Herald. The demise of Knight Ridder is a major blow to [Tony Ridder], who moved Knight Ridder's headquarters from Miami to downtown San Jose to be at the center of the Internet revolution, only to see the company sold eight years later.