Printer Friendly

Knight-Ridder Announces Sale of Several Newspapers

MIAMI, Oct. 30 /PRNewswire/ -- Knight-Ridder (NYSE: KRI) today announced that it will sell the Boca Raton News, the Milledgeville Union-Recorder and suburban Newberry (S.C.) Observer to Community Newspaper Holdings Inc. The price was undisclosed, but it included transfer to Knight-Ridder of the Daily Sun in Warner Robins, Ga., the Byron Gazette, a weekly newspaper, plus a shopper. The sale is expected to be finalized by Thanksgiving.

The Daily Sun (circulation about 9,000) serves the city of Warner Robins, just 20 minutes from Macon, where Knight-Ridder owns The Macon Telegraph. Warner Robins is home to the 18,000-person Robins Air Force Base, the biggest single employer in Georgia.

Tony Ridder, chairman and chief executive officer of Knight-Ridder, said: "It is always hard to part with a newspaper, so selling these three is regretful, but we are extremely pleased that we are adding the Warner Robins newspaper as part of this sale. It is the only daily paper published in Houston County, which is a fast-growing area just south of Macon, where The Telegraph sells about 20 percent of its newspapers. This makes the Sun newspaper a great fit for Knight-Ridder."

Ralph J. Martin, president and chief executive officer, established Community Newspaper Holdings in February 1997. Community Newspaper Holdings started out by purchasing 43 publications from Media General -- including 13 dailies - in eight states stretching from Georgia to Idaho. The company has bought seven additional daily newspapers since, and with the acquisition of the Knight-Ridder papers will own 20 dailies, 23 weeklies and six specialty shoppers in 10 states.

Martin said: "While we are saddened to lose our Warner Robins properties, we welcome the additions of the Knight-Ridder papers to our organization. This exchange will enhance the strategic fit of these newspapers to both Knight-Ridder and Community Newspaper Holdings, Inc. and should be considered beneficial to the many readers and customers of these fine papers."

Knight-Ridder is the nation's second largest newspaper publisher, with products in print and online. The company publishes 36 daily newspapers in 34 USA markets, reaching 9.8 million readers daily and 13.4 million on Sunday. It maintains 32 associated Web sites and has investments in two newsprint mills.

SOURCE Knight-Ridder, Inc.
 -0- 10/30/97


/CONTACT: Polk Laffoon, Vice President/Corporate Relations, 305-376-3838 or Lee Ann Schlatter, Director of Corporate Communications, 305-376-3839, both of Knight-Ridder, Inc./

CO: Knight-Ridder, Inc. ST: Florida IN: PUB SU: TNM

KW -- FLTH017 -- 4952 10/30/97 11:01 EST http://www.prnewswire.com
COPYRIGHT 1997 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1997 Gale, Cengage Learning. All rights reserved.

 Reader Opinion

Title:

Comment:



 

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Oct 30, 1997
Words:414
Previous Article:Republic Security Financial Corporation Declares Quarterly Cash Dividends
Next Article:American Heritage Life Investment Corporation Reports Record Third Quarter and Nine Months Earnings from Operations
Topics:

Terms of use | Copyright © 2014 Farlex, Inc. | Feedback | For webmasters