Knight Ridder Agrees to $4.5bn Takeover by McClatchy

14 March 2006

    SAN JOSE, CALIFORNIA - Following prolonged speculation, America's second largest newspaper group Knight Ridder has accepted a takeover offer from a publisher half its size - the McClatchy Company of Sacramento, California.
    The bid is said to be worth $4.5 billion (€3.79bn; £2.61bn) in cash and stock. According to Chuck Richard, an analyst at information industry researcher Outsell: "McClatchy is a dolphin swallowing a small whale."