McClatchy Company
ORG
McClatchy Company McClatchy
The McClatchy Company, a California newspaper publisher, won a one-bid auction for Knight Ridder, offering $4.5 billion in cash and stock for its 32 newspapers, including The Miami Herald, The Star-Telegram of Fort Worth and The Charlotte Observer in North Carolina. To help finance the deal and head off some antitrust concerns, McClatchy, which is based in Sacramento, immediately put 12 of the papers back up for sale. Among those it plans to sell are The Mercury News in San Jose, Calif., Knight Ridder's hometown; The Akron Beacon Journal in Ohio, which was the first in the chain; and both papers in Philadelphia, The Inquirer and The Daily News.