Monday, March 13, 2006

The State To Have A New Owner

Knight-Ridder, owners of The State paper, have sold their operations for $4,500,000,000.00.

NEW YORK (Reuters) - Newspaper publisher McClatchy Co. on Monday said it would buy larger rival Knight-Ridder Inc. for $4.5 billion in cash and stock, ending a search for a buyer that lasted more than four months and highlighted the troubles of the U.S. newspaper industry.


I hope this is good news for the hometown paper.



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2 comments:

eric said...

all i know is that mcclatchy is a great company to work for. from what i hear, the employees might enjoy the change.

it'll be interesting to see how it all shakes out. mcclatchy went from being a small operation to the second-largest media corp. behind gannett. they have the carolina coast and major markets inland on lock down now.

e+

John said...

That's good to hear.

I do know that KN has been doing some great reporting on Iraq and other international stories, I do hope that continues.