Chris O’Brien of the Mercury News says that investors credit McClatchy CEO Gary Pruitt with “striking a careful balance between journalism and commerce” that has made his company a favorite of Wall Street and journalists. Story gives Pruitt’s philosophy on acquisitions. [AJR’s Rem Rieder: “At a dozen dailies … the agony continues”] [AJR’s 2003 profile of Pruitt] [Pruitt calls buying KR a “once-in-a-lifetime-opportunity”]