Newspaper industry analyst John Morton (pictured) says he would be surprised if the Knight Ridder board accepts McClatchy’s offer for the newspaper chain. Morton tells reporter Dale Kasler of the Sacramento Bee that McClatchy’s offer is so low “it will be viewed as the biggest steal in the newspaper industry.” Buyers have traditionally paid 12 to 14 times a newspaper’s annual cash flow, but McClatchy’s bid is less than 10 times cash flow of Knight Ridder. KR’s board meets in New York tomorrow (March 12) and its decision could be announced as soon as Monday morning. (Photo from

SF Press Club News

One Comment

  1. Morton’s kind of a shoot-from-the-hip analyst. If you look back, he’s made a lot of forecasts that have been wide of the mark.

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