Knight-Ridder Newspaper Network Gets Ultimatum from Florida Investment Cabal

It would be quite a stretch to call Knight-Ridder, the California based American media company specializing in newspaper and Internet publishing, liberal by any standard, but being the second largest newspaper publisher in the nation I guess this is what "they" must be referring to as "the filter."

But the fact is it's just a group of 31 independent local papers that serve their communities like the Charlotte Observer or the Miami Herald. And like most independent papers they do things people don't like, such as investigate and report and editorialize and criticize and endorse.

So when the 24 hour news candy channels were falling all over themselves to cheerlead for good "shock & awe" video or criticize Kerry's hunting attire, they were writing (shock) news affecting their community and questioning the White House press releases, not publishing them as news.

Enough of that says Florida's Private Capital Management.

Knight Ridder gets an ultimatum
StarTribune.com
John Reinan, Star Tribune
Last update: November 1, 2005 at 9:24 PM

Citing Knight Ridder's poor performance, the chain's largest stockholder demanded the company put itself up for sale. The Pioneer Press is among KR's holdings.

A large investor is demanding that Knight Ridder Inc., the nation's second-largest newspaper chain, put itself up for sale or auction off its flagship publications, which have wrestled with flat advertising revenue and stagnant or declining circulation.

In a letter Tuesday to the Knight Ridder board of directors, the investment firm Private Capital Management (PCM) threatened to launch a hostile takeover if the company does not move to "aggressively pursue" a competitive sale.

Just business? Or just politics? Is there a difference?


Mr. Gregg J Powers
President
Private Capital Management
RNC donation $25,000
7295 Tilden Lane (map)
Naples, FL 34108

MR. GREGG JOSEPH POWERS
INVESTMENT ADVISOR
PRIVATE CAPITAL MANAGEMENT
George W. Bush donation $2,000
7295 TILDEN LANE (map)
NAPLES, FL 34108