McClatchy Buys Knight Ridder in $6.5 Billion Deal

In a deal purported to be worth $4.5 billion, McClatchy purchased all 32 Knight Ridder publications, and has announced plans to divesttwelve of them, including the News Sentinel, the Journal Gazette, and the Pulitzer Prize-winning San Jose Mercury News.

On behalf of the soon-to-be divested papers, The Newspaper Guild released the following statement: “We are working, in partnership with the Yucaipa Companies of Los Angeles to create a worker-friendly and customer-friendly company to buy and improve our newspapers and their online services.”

Under this arrangement, the divested papers would be partially-owned by the employees, with the majority of funding coming from Yucaipa.

Still, tensions are high at the offices of the papers slated for divestment, as their future plans hang in the balance.

All Spanish-language sister publications of the divested papers will also be divested, including the San Jose Mercury News' Nuevo Mundo.

Look to Portada in the coming weeks to follow-up with the latest news surrounding this wave-making deal.


Trackback from your site.

Editorial Staff @portada_online

Portada Staff

MORE FROM PORTADA

The 5 Most Pressing Questions About Influencer Marketing Answered by Band of Insiders, Best Buy, Bimbo, and Pepsico

The 5 Most Pressing Questions About Influencer Marketing Answered by Band of Insiders, Best Buy, Bimbo, and Pepsico

During the seventh edition of the #PortadaMX summit, experts in Influencer Marketing took the stage to discuss best practices surrounding this elusive but undeniably effective tool to reach consumers. Vivian Baron, CEO and Creative Chairwoman at Band of Insiders, presented the panelists: Best Buy Mexico's E-commerce Subdirector José Camargo, Grupo Bimbo's Global Consumer Engagement Lead Giustina Trevisi, Band of Insiders' Influencer Marketing Manager Leonardo Vargas, and Pepsico/Drinkfinity's Director of Business Innovation & Marketing Yamile Elias.


Experts: Sears’ Future in Mexico Remains Bright, Implications for U.S. Hispanic Market

Experts: Sears’ Future in Mexico Remains Bright, Implications for U.S. Hispanic Market

Experts tell Portada the downfall of the storied retailer won’t affect the Sears franchise in Mexico where better merchandising and e-commerce under the management of Grupo Carso, owned by Mexican billionaire Carlos Slim, have built the franchise into a big hit with Mexican consumers. The implications for the U.S. Hispanic Market.