AP: Way Cleared for McClatchy Newspaper Sale

[Eugene]

Way Cleared for McClatchy Newspaper Sale


Monday July 31, 2006 9:01 PM

By MICHAEL LIEDTKE

AP Business Writer

SAN FRANCISCO (AP) - Federal regulators cleared the way Monday for McClatchy Co.
to sell four newspapers in a $1 billion deal that will establish MediaNews Group Inc.
as the San Francisco Bay area's largest newspaper publisher.

The U.S. Justice Department said it had ended an investigation into the 3-month-old
deal involving the San Jose Mercury News, Contra Costa Times, Monterey Herald
in northern California and the St. Paul Pioneer Press in Minnesota.

"After a careful investigation...the antitrust division determined that the transaction
if not likely to reduce competition substantially," the Justice Department said in a
statement.

McClatchy took control of the papers a month ago when the Sacramento, Calif.-based
company bought their former owner, Knight Ridder Inc., for $4 billion.

-snip-

Full article: http://www.guardian.co.uk/worldlatest/story/0,,-5985503,00.html

[blm]

1. MORE BAD MEDIA NEWS, folks - The new owner is a HUGE Bush supporter.

So far, all the sales of McClatchy papers have gone to ACTIVIST Republicans and big Bush donors.

BushInc is buying control of print media the same way they bought up control of most broadcast media - right under the noses of the big money Democrats and Dem investment firms that do NOTHING to ensure a fair media for this country.

[KharmaTrain]

2. Big Money Democrats?

Unless you mean George Soros...and there are many here who would argue with you that he's a "real Democrat". There are no Clear Channels or NewsCorps or Sinclairs or Salems on the Democratic side...if anything whatever left wing media is too busy fighting against itself most times and has fractionalized. While AAR has been a success, its far too little and has run into a rough radio landscape not of their own design or making.

The McClatchy papers were far from friendly or "liberal", so no great loss here...other than more local control going to suits far away with only dollar bills and their own personal agendas in mind. The biggest losers will be the readers who will lose local coverage as money will need to be saved and profits made.

Media "consolidation" is turning into a nightmare as the bad economy and increased competition from the internet had made owning large "brick and mortar" media outlets like newspapers and radio and TV stations an expensive...and in many cases, money losing proposition. The McClatchy's are cashing out as they surely see the bottom falling out and I'm starting to see other companies doing the same as "deregulation" as destroyed competition and cost-cutting has destroyed quality and credibility.

Personally, I hope the entire house comes crumbling down with tons of GOOP money with it. Just like deregulation all but ruined the airline industry, media ownership now sits on the bring of its own destruction. Stay tuned...

[blm]

3. McClatchy bought KnightRidder, the last real news org. - it's KR papers

that McClatchy is selling off. They sold two of Pennsylvania's largest papers to GOP activists there within weeks of taking over KR.

And by big money Dems, I mean all those investment firms that Clinton's cabinet and big name Dems joined to help steer their purchases. The GOPs only need another half decade to mire this country in fascism. They are using every media opportunity to do it.

[LeftyMom]

5. McClatchy is centrist and above all capitalist

They'd sell those papers to the devil himself if he cut the largest check.

[blm]

6. The devil will always cut the largest check - they know how important the

media is to the success of their agenda for the next few years. Afterwards they don't give a twit, the profit they'll see from perpetual war will be all they really need while the newsmedia is just another expense of their PR department.

[AX10]

4. I'd love to see the "ENRONing" of the big media conglomerates.