It's official: McClatchy's acquisition of Knight-Ridder was a disaster. Until about 20 months ago, the name Knight-Ridder represented one of the most respected brands in the history of American journalism. It owned and operated the second largest newspaper chain in the U.S. after Gannett and was widely...
From the executive summary: ‘U.S. companies that outsource work usually face problems that are far more mundane, like unmet expectations in terms of work quality and costs. Foreign companies do not advertise the snags that sometimes occur. Some American companies have stumbled when they have outsourced, even when they set...
Expects $13.5 Million After-tax Proceeds on Transaction SACRAMENTO, Calif., July 8 /PRNewswire-FirstCall/ -- The McClatchy Company today reported that it has sold its 15.0% interest in ShopLocal, LLC ShopLocal to Gannett Company, Inc. Gannett for $7.875 million and has used the proceeds to pay down bank...
In the same community where newspaper pioneerJohn S. Knight built his media empire, a group of journalists, includingseveral with direct ties to the late Mr. Knight, announce the formation ofa new digital media company that embraces the high Knight ideals. SunLit Communications LLC, staffed mostly by journalists of the formerKnight...
AKRON, Ohio, April 28 /PRNewswire/ -- A new online media company formed by veteran newspaper journalists announces its first national contracts to supply custom, multimedia content. SunLit Communications LLC, staffed mostly by journalists from the former Knight Ridder Newspapers, will assist Random House, Inc. in its "One...
Empire Film Group, Inc. (PINKSHEETS: EFGU) ("Empire Film") ( http://www.empirefilmgroup.com ) has selected January18, 2008 as the theatrical launch date for the new comedy "Blonde &Blonder" starring Pamela Anderson and Denise Richards. The film will openas a special theatrical engagement in ten key U.S. markets as part of acharitable...
NEW YORK -- MediaNews Group Inc. and Hearst Corp. completed a complex $317 million deal giving Hearst a 31 percent stake in MediaNews properties outside the San Francisco Bay area, and adding three daily newspapers to the roster of MediaNews. MediaNews, the Denver-based publisher of The...
Former Knight Ridder VP and CFO Going Solar LOS GATOS, Calif. -- Akeena Solar, Inc. (OTCBB:AKNS), a leading designer and installer of solar power systems, announced it hired Gary R. Effren as chief financial officer. Based in the Los Gatos headquarters, Effren will report directly to Barry Cinnamon,...
CHICAGO -- Fitch Ratings has downgraded McClatchy's issuer default rating IDR and senior unsecured notes (assumed as part of its acquisition of Knight Ridder in June 2006) to 'BB+' and affirmed the bank facility rating at 'BBB-'. The Rating Outlook is Stable. The McClatchy Company --Issuer...
The trouble with conventional wisdom is that often it's stronger on the conventional than on the wisdom. That's certainly true when it comes to newspaper ownership. [ILLUSTRATION OMITTED] Take the case of Knight Ridder. When the beleaguered, fading company...
SAN FRANCISCO -- AllBusiness.com, Inc. (www.allbusiness.com), a leading online resource for small and mid-size businesses SMBs, today announced that Kathy Yates will be the company's new CEO. Yates' predecessor, Peter Horan, has accepted a new position as CEO of IAC media and advertising. Yates joined AllBusiness in July 2005 as...
On May 7, 2006, metro Detroit newspaper readers were greeted with something they hadn't seen in a long time: a standalone edition of the Sunday Detroit Free Press. That issue and the cessation of The Detroit News publishing on Sunday (each paper now publishes...
Byline: Mary Kramer Daily newspapers across the country are losing subscribers. An iconic media company with a big Detroit history, Knight-Ridder Inc., is out of business, and another big newspaper company, Chicago-based Tribune Co., put itself - or parts of itself -...
Thanking Philadelphia Inquirer editor Amanda Bennett for guiding the paper "through all kinds of b.s. that you guys had to put up with" during months of downsizing and sale, Publisher Brian Tierney welcomed her successor yesterday: Bill Marimow, Pulitzer-Prize-winning former Inky reporter and city editor. "We have been through one...
WITH 148 PROPerties, Extra Space Storage Inc. was a small player in the self-storage business. But it had big dreams. In July 2005, it plunked down $2.3 billion cash for Storage USA, a company with 458 properties in 34 states. In a stroke, Extra Space became the second-largest provider of...
When McClatchy Co. emerged as the surprise buyer of Knight-Ridder Inc., McClatchy CEO Gary Pruitt described it as a deal coming "perhaps once in a company's lifetime." That was also true of the challenge of paying for the much-larger newspaper publisher. Financially conservative McClatchy--which had just paid down...
Knight Ridder Inc. no longer owns the Akron Beacon Journal. Indeed, the newspaper company has ceased to exist following its acquisition this year by The McClatchy Co. of Sacramento. However, we're happy to report the Miami-based foundation that bears the Knight family name hasn't forgotten its...
