McClatchy Buys Knight Ridder
The major news in the United States for the media industry is McClatchy’s purchase of Knight Ridder for $4.5 billion plus $2 billion in debt for a total of $6.5 billion. Both are huge media companies that own many news outlets. Based on daily circulation numbers, McClatchy will become the second largest newspaper company in the U.S. after some of the dust settles. It’s going to be interesting to watch what happens in the next few months.
McClatchy’s press release
Knight Ridder’s release
I wish all of my colleagues in these companies the best.
