NEW YORK (Reuters) - Final bids are due on Thursday for Knight Ridder Inc. (KRI), with the future of the No. 2 U.S. newspaper publisher hinging on whether it accepts buyout offers expected by the end of the day.
In mid-November, the publisher of the Philadelphia Inquirer, the San Jose Mercury News and 30 other daily newspapers put itself up for sale amid pressure from its largest shareholder.
Investors on Thursday braced for news of formal bids for the company, whose flagship papers have struggled with depleted revenues and high newsprint and worker costs. From mid-August to mid-October 2005, Knight Ridder shares dropped 24 percent, rallying only when the takeover action began in November.
http://finance.myway.com/jsp/nw/nwdt_rt.jsp?section=news&feed=bus&src=202&news_id=bus-n09192405&date=20060309
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