It is becoming more likely that if Knight Ridder is sold, the buyer will be another newspaper chain, like Gannett, McClatchy or Dean Singleton’s MediaNews Group. That’s because interest in buying Knight Ridder by private equity firms is waning with six days to go before bids are due. Reuters is reporting tonight (March 3) that Kohlberg Kravis Roberts & Co., Providence Equity Partners and Blackstone Group have dropped out of the running. The report was attributed to “sources close to the situation.” Sources also told Reuters that the two other private equity groups are balking at what they say is too high a price to justify to their investors. KR’s holdings locally include the San Jose Mercury News, Palo Alto Daily News group, Contra Costa Times and Monterey Herald.

SF Press Club News

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