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Tuesday, May 30, 2006

Tomorrow the Deadline for Knight Ridder Bids

Many of the other remaining "orphan 6" Knight Ridder newspapers are buzzing about which prospective buyers have made a site visit. However, the Fort Wayne News-Sentinel is not one of those buzzing "orphans."

Reports are saying that tomorrow, Wednesday, May 31, is the deadline for submissions to McClatchy for any or all of the remaining orphan KR properties. You can view the stories at the Wilkes-Barre Times Leader and the Akron Beacon Journal.

The following is from the Aberdeen American News:

Bidders for the paper, as well as the five other Knight Ridder papers still up for sale, are expected to submit offers by Wednesday, McClatchy CEO Gary Pruitt told the Sacramento Bee. There's no date set for when the identity of the buyer will be released to the public.

MORE: Editor & Publisher reports that Securities and Exchange Commission filings by Knight Ridder indicate the sale of KR to McClatchy will close by June 27.

So what will happen to the News-Sentinel if there are no bids for it? Will McClatchy end up keep it, or will it have to fold?
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