The Los Angeles Times reports that three new partnerships have emerged as players in the bidding for Knight-Ridder, owner of The Miami Herald, The Philadelphia Inquirer, The San Jose Mercury News, and 30 other newspapers.
These groups, including one involving Kohlberg Kravis Roberts & Co., formerly Wall Street’s hostile takeover king, join the union representing Knight-Ridder employees, a group of the corporation’s top executives, McClatchy Co., and MediaNews Group Inc., now circling the very profitable but underperforming newspaper chain.
Gannett has reportedly dropped out of the bidding.
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