Skepticism about the newspaper industry’s ability to make a successful migration to the Internet may be part of the reason why bids for Knight Ridder came in lower than what investment analysts were expecting, according to a story in this morning’s Sacramento Bee. KR’s board is scheduled to meet tonight (Sunday, March 12) to decide whether to accept any of the bids for the chain which includes the San Jose Mercury News, Contra Costa Times and Palo Alto Daily News group. The Bee story, by Dale Kasler and Marjie Lundstrom, repeats a comment in Saturday’s Bee from industry analyst John Morton, who says he wouldn’t be surprised if KR’s board rejects all bids because they were too low. The Bee is owned by McClatchy Co., which reportedly submitted the top bid of more than $4.35 billion.
Web concerns may have lowered KR bids
< Back to All News