Penelope Patsuris of Forbes Magazine reports on the battle between Knight Ridder chairman Tony Ridder (pictured) and a group of shareholders who want new management of the newspaper chain. She makes the point that other newspaper chains with family ownership, such as the New York Times and Washington Post, have two classes of stock — nonvoting stock for the public and voting shares held by family members. Because KR has just one class, the company is more vulnerable to a hostile takeover.
Can the Ridders ride it out?
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