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Home » blogs » Rick's blog
 
Knight Ridder sold to McClatchy
Submitted by Rick on Sun, 03/12/2006 - 10:44pm.

This is good news. From The New York Times:

Knight Ridder, the second-largest newspaper company in the United States, agreed Sunday night to sell itself for about $4.5 billion in cash and stock to the McClatchy Company, a publisher half its size, according to people involved in the negotiations.

The deal, which is expected to be announced Monday, comes as the newspaper industry is gripped by uncertainty. Readers have begun to drift away from printed newspapers as their Web sites have experienced sharp gains in use.

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