McClatchy Must Sell Pioneer Press: DOJ Lawsuit

Law360, New York (June 27, 2006, 12:00 AM EDT) -- As McClatchy Co. and Knight-Ridder Inc. inch towards their multi-billion dollar merger, the U.S. Department of Justice said in a civil antitrust lawsuit filed this week that it will require the merged publishing company to divest the St. Paul Pioneer Press in order to preserve local competition.

The news of the lawsuit came simultaneously as Knight-Ridder shareholders voted to approve the deal on Monday, bringing months of speculation about the closely watched merger to an end.

But the drama is not over yet. The DOJ’s lawsuit,...
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