E&P: Ridder Surprised, Unhappy Over McClatchy Flipping 12 Papers

[DeepModem Mom]

Ridder Surprised, Unhappy Over McClatchy Flipping 12 Papers
By E&P Staff
Published: March 14, 2006


NEW YORK One of the biggest surprises in the aftermath of McClatchy's winning bid for Knight Ridder is that the CEO of the latter newspaper chain, Tony Ridder, was shocked that the buyer turned around and put 12 of his newspapers on the market. One might have imagined that this possible scenario was discussed while the McClatchy deal was still developing.

But a lengthy report in his flagship paper, the San Jose Mercury News, reveals that Ridder was taken aback by McClatchy's flip flop, and that "he feels terrible about it."

Knight Ridder's spokesman, Polk Laffoon, told The New York Times that Ridder was upset about the unexpected dissolution of his company, "particularly now to see it not sold as a whole."

In what reporter Pete Carey called an occasionally emotional interview at the Knight Ridder office, Ridder said, "I was just stunned when I heard they were selling San Jose and Contra Costa, and Monterey, too."

Ridder said he was "feeling pretty good" about the deal with McClatchy, which he views as standing for "great stability" and quality journalism, until he learned about the change in direction....


http://www.editorandpublisher.com/eandp/news/article_display.jsp?vnu_content_id=1002157990

[blm]

1. This is sad - McClatchy was supposed to be one of the best case scenarios

for KnightRidder. They hid their cards well these past years.

So much for journalism's last hope.

[Warpy]

2. Gee a predatory buyer lies about his intentions

what a terrible shock.

[mom cat]

7. I suspect that Bushco is going after all non compliant media.

[Hobarticus]

3. "Felt terrible about it"....all the way to the bank

If he was that concerned, he should've seen to it that it wouldn't happen.

[bullimiami]

4. knight ridder was no great news org.

the miami herald has been little more than fishwrapper for years. i cancelled my subscription long long ago.

[Demit]

8. Phila Inky has been going downhill for ages. Run by the money boys.

Shrinking the newshole, dropping the Sunday magazine, putting poetry on the op-ed page, ferchrissakes. I don't blame the reporters. It's the MBA types who think newspapers are just another widget factory. Too sad.

[hatrack]

5. Surprised? What are they, economists?

:eyes:

[zbdent]

6. Knight Ridder had the opportunity to sell batches or single newspaper

businesses themselves . . . but they wanted to sell them off as one whole unit.

If they're bitching now, it's their own fault.

I posted about that concept a while back . . . that the KR "legacy" would be controlled by the mega-news type . . . because a smaller org wouldn't be able to buy just one paper, like the Akron Beacon Journal or the Philly Inquirer . . .

That probably was a calculated move . . .

[JPZenger]

9. Dumping the Union Papers

McClatchey is dumping the papers with the strongest unions.