Posts Tagged ‘Knight Ridder’

McClatchy papers among 25 predicted to survive

Sunday, May 8th, 2011

Business Insider/The Wire looks at the Audit Bureau of Circulations’ top performing newspapers and finds “25 Papers That Have The Best Chance Of Being Around In 10 Years,” among which McClatchy newspapers are well represented.

“The Chicago Sun-Times — home of the much-loved and always popular Roger Ebert,” Business Insider explains — “led the list with a jump of 48.41 percent between March 2010 to March 2011.”

McClatchy’s Fort Worth Star-Telegram is second on the list with a 12.79 percent change in circulation from ’10 to ’11. The Miami Herald weighs in at 15th, where the growth is a meager 3.16 percent, but is growth nevertheless, and across the peninsula, the Bradenton Herald was 20th with a 1.6 percent uptick in circulation.

At 16, with a 3.12 percent increase, is the San Jose Mercury News a former Knight Ridder newspaper that McClatchy acquired in 2006 but sold off (to Media News) because it had no growth potential.

McClatchy’s KR buy called ‘worst’ move

Friday, August 13th, 2010

Bloomberg is calling the McClatchy Company’s acquisition of the much bigger Knight Ridder newspaper chain the worst of the biggest takeovers made during the last mergers-and-acquisitions boom.

“McClatchy’s purchase of the Knight Ridder Inc. newspaper chain, for $4.1 billion in 2006, ranked the worst of the 100 on Bloomberg’s list, with McClatchy shares underperforming the Bloomberg Advertising Age AdMarket 50 Index by 93 percentage points,” the article says. “Sacramento, California-based McClatchy borrowed cash to buy the chain as newspaper real-estate advertising plunged. Elaine Lintecum, McClatchy’s treasurer, declined to comment.”

The move made McClatchy, which was the nation’s eighth-largest newspaper publisher, the nation’s third-largest chain (once it sold off some Knight Ridder papers), but saddled it with enormous debt just as the industry began its ongoing decline.

More than half of the 100 mergers and acquisitions should never have happened, Bloomberg says.