Knight Ridder(KRI Quote) is exploring strategic alternatives including a possible sale, the company said Monday.
The shares are up almost 18% this month after its largest shareholder, Private Capital Management, urged Knight Ridder's board to sell the company. The stock closed at $62.87 Friday, about $3 below its level at the start of the year and $12 below its level at the end of 2003. Goldman Sachs, Knight Ridder's investment banker, will assist with the sale effort. Knight Ridder is the second-largest newspaper operator behind Gannett(GCI Quote), which is sometimes mentioned as a possible suitor. Knight Ridder publishes 32 daily papers with a readership of 8.5 million a day.- Loading Comments...
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