January 11, 2006 |
As Knight Ridder Inc. begins meeting with potential buyers this week, new names are emerging as contenders for the country's No. 2 newspaper chain. At least three previously undisclosed private equity firms have joined groups interested in acquiring the publisher of the San Jose Mercury News, Philadelphia Inquirer and 30 other papers.
December 25, 2005 |
The day after Hurricane Katrina wrecked the Gulf Coast, Tony Ridder headed for Mississippi, where one of his newspapers was confronting the biggest story in its history without power, telephones or running water. The chairman and chief executive of San Jose-based Knight Ridder Inc. reached the scene before most of the staff of the Biloxi Sun Herald had made it back to the newsroom.
December 23, 2005 |
Knight Ridder Inc., which put itself up for sale last month, has rebuffed an initial effort by union workers to bid on some of its 32 daily newspapers. San Jose-based Knight Ridder and its investment bank, Goldman Sachs Group Inc., told the Newspaper Guild-Communications Workers of America that the company would only consider bids for all of its assets, union President Linda Foley said Thursday.
December 10, 2005 |
At least two potential buyers made preliminary bids Friday to acquire Knight Ridder Inc., the country's second-largest newspaper chain, according to three people familiar with the discussions. Among those submitting offers by the first-round deadline were investment firm Texas Pacific Group and an alliance of private equity investors Kohlberg Kravis Roberts & Co., Blackstone Group and Providence Equity Partners, the people said.
December 4, 2005 |
Bruce Sherman got his first taste of investing in the 1960s after his father gave him 10 shares of Polaroid Corp. as a bar mitzvah present. The stock was at $20 a share, and the gift carried a proviso that prevented Sherman from selling the shares until he turned 21. By then, Polaroid had climbed to about $180 and Sherman, figuring the stock was overvalued, promptly sold it.
December 2, 2005 |
A group of private equity firms, including two that own a significant stake in the Orange County Register, is mulling over a bid for newspaper chain Knight Ridder Inc. Blackstone Group, Providence Equity Partners Inc. and Kohlberg Kravis Roberts & Co. are working on a possible offer for the San Jose-based company, three people with knowledge of the discussions with Knight Ridder said Thursday. It was unclear whether the talks would lead to a formal offer or how much it might be.
November 21, 2005 |
The money managers who successfully prodded Knight Ridder Inc. to put itself on the market might have picked a more advantageous moment. San Jose-based Knight Ridder, like other big-city newspaper chains, is suffering from chronic circulation and advertising declines, but there's also the persistent background buzz that the industry has its rear legs in a tar pit with nothing between it and extinction except a certain amount of useless thrashing.
November 15, 2005 |
Knight Ridder Inc. bowed to investor pressure Monday and said it had asked investment bankers to "explore strategic alternatives," including a possible sale of the newspaper chain. Shares in the San Jose-based company rose as much as $2.60, to $65.10, but slid back to close at $63.10 as Wall Street analysts questioned whether any buyer would be willing to spend the more than $4 billion that Knight Ridder's shares are currently worth.
November 11, 2005 |
Knight Ridder Inc.'s largest shareholder Thursday applied more pressure to the San Jose newspaper chain to put itself up for sale, saying it might nominate candidates for the company's board and raising the possibility that it would approach potential buyers. Private Capital Management, which owns a 19% stake in the nation's No.
November 8, 2005 |
As big shareholders of Knight Ridder Inc. pressure executives to consider selling the nation's second-largest newspaper company, an increasing number of industry veterans say the fight's outcome could write the future of print journalism. Like other chains, Knight Ridder has responded to readers and advertisers migrating to the Internet by investing in Web versions of the print product, cutting costs and experimenting with free papers.