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Magnate May Bid for Philadelphia Papers

April 28, 2006|From the Associated Press

NEW YORK — Representatives of New York Daily News owner Mortimer B. Zuckerman met with Philadelphia newspaper executives Thursday to consider a bid for the Philadelphia Inquirer and the Philadelphia Daily News.

Zuckerman, a real estate magnate who also owns the weekly magazine U.S. News & World Report, would join several parties also interested in the papers, which are among the 12 Knight Ridder Inc. properties that McClatchy Co. plans to sell once it buys the rest of Knight Ridder.

On Wednesday, McClatchy said it had reached a deal to sell three California newspapers and one in Minnesota to MediaNews Group Inc. for $1 billion. Hearst Corp. is helping to finance it.

That leaves eight other Knight Ridder newspapers on the market.

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