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Monday, November 14, 2005

Knight Ridder Getting Ready for Possible Sale

Board Hires Goldman Sachs to Guide Knight Ridder Sale

Knight Ridder's Board has retained the investment banking firm of Goldman-Sachs to advise it regarding the possible sale of the company in whole or by individual divisions and properties.

Jon Fine wrote in BusinessWeek magazine, about where K-R went wrong, that
"[Sale] would mark a weird and ignominous end to Knight Ridder - and the career of P. Anthony Ridder, the 65 year-old family scion who has been chairman and CEO for a decade. But during his tenure, through circumstance and choice, Knight Ridder solidified a portfolio that left them exposed to what could be termed the curse of the cities and the stigma of the second tier."

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