Northern Valley Beacon

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Friday, November 04, 2005


Knight Ridder newspaper chain under pressure to sell

Knight Ridder, the parent company of the Aberdeen American News, is under pressure by its leading stockholders to sell off the company. While the possibility is alarming to the newspaper industry in general, it offers some encouraging hope to the constituents of newspapers like the Aberdeen American News for improvement in what is their only major news source.

In the region, Knight Ridder owns the St. Paul Pioneer Press and the Grand Forks Herald.

Knight Ridder is feeling the dissatisfaction of investors holding newspaper stock at a time when newspapers are losing readers and revenue to cable television and the internet.

Three of Knight Ridder's major corporate investors have called for the company to sell out. The most logical buyer of Knight Ridder would be Gannett Co., which includes the Sioux Falls Argus Leader in its chain, or Chicago-based Tribune Co., investment analysts say. But Tribune Co. has problems of its own that probably would prevent it from buying Knight Ridder.

Complete stories are in the St. Paul Pioneer Press, and the Star Tribune.

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