Reply #24: News. Media: MediaNews Buys Four Former Knight Ridder Papers [View All]

[EFerrari]

MediaNews Buys Four Former Knight Ridder Papers

SAN JOSE, Calif. (KCBS) -- Dean Singleton, owner of Denver-based MediaNews Group Inc., has purchased four former Knight Ridder newspapers, including the San Jose Mercury News, the Contra Costa Times, and the Monterey County Herald, for $1 billion.

With backing from Hearst Corp., MediaNews also bought the Saint Paul Pioneer Press in Minnesota.

The four were among a dozen newspapers around that country that McClatchy Co. decided to spin off immediately after announcing a deal in March to purchase Knight Ridder for $4.5 million.

MediaNews already controls 22 suburban newspapers in northern California.

http://kcbs.com/pages/29285.php

This is terrible news for CA. :(

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