Newspaper Sale Relieves Knight-Ridder Antitrust Worries

Law360, New York (April 27, 2006, 12:00 AM EDT) -- As a way to relieve antitrust issues stemming from its recent acquisition of Knight-Ridder, McClatchy Co. has agreed to sell the St. Paul Pioneer Press newspaper, along with four others, to MediaNews Group Inc. and Hearst Corp. for $1 billion.

The move comes on the heels of a Justice Department announcement that it would seek additional information regarding only the Minneapolis/St. Paul area, an indication that the rest of the merger raised no antitrust concerns.

“We are delighted that the Department of Justice review confirms our...
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