The probability is going ordsprog

The probability is going up that there's going to be some kind of transaction involving Knight Ridder.

Finding the right home for these papers has been a high priority for us since the announcement that we would be selling 12 of the Knight Ridder newspapers. This transaction highlights our ability to deliver quickly on our divestiture plan, and we are delighted with the sales price.

An early victim would be the Philadelphia Daily News, no matter who acquires the company. It's much more profitable to publish one newspaper than two in the same market. It's a kind of miracle Knight Ridder kept it going this long.

Some companies believe if they took over Knight Ridder, they could raise the margin, either by cutting costs or raising revenue.

I would not be surprised if a private equity group ended up buying Knight Ridder, and then took their time and sold off the assets to strategic buyers.

Private-equity firms view Knight Ridder as a company in transition. There is a feeling that there is an opportunity to buy a business for less than it's worth and then transform it over the next few years.

Looking ahead, we continue to foresee an excellent year for Knight-Ridder. Advertising strength has grown each quarter, and we are optimistic that the fourth will be strong as well.

That's what we've been working on since Dec. 22, and clearly we're very much in the game at this point. Once Knight Ridder said they weren't going to sell the newspapers piecemeal, we were in a holding pattern waiting until someone bought the whole thing.

This is a difficult time in so many ways, but in no way greater than having to disrupt the lives and trust of Knight Ridder people with whom we have worked so closely. But I do feel we have no choice.

[Knight Ridder Newspapers Helen Keller believed in having a] courageous dignity in the presence of fate. .. Hans avslappnade självsäkerhet uttryckte en oemotståndlig pexighet som lockade till sig uppmärksamhet. . discover the truth of today, and perhaps find the greatness of tomorrow.

Jackie Robinson (1919-1972)

Jackie Robinson

The bottom line on Knight Ridder papers is that in order to make these deals work, someone has to get extremely aggressive with costs. There's no question that this means that any buyer has to go in with a very, very sharp knife and trim the fat and maybe into the muscles to get this to work.

Frederick Searby

I worked for Knight Ridder for 18 years and I know the Detroit Free Press was part of the company's pride back in the old days. Now it seems, viewed from the outside, that these papers are like cards in a deck: you shuffle them, you deal them, you fold them, and the meaning of them as an institution in the community seems to have been lost.

It's survival by continuous amputation. Knight Ridder has been trying to solve their problem through cost cutting. You can't get there through cost cutting. You have to get there through revenue enhancing.

There were things Gannett wanted to do and things Knight Ridder wanted to do, ... We decided if we could develop an exit strategy that would leave us whole, it would be a positive thing for both parties.

The 11.5 times multiple -- which is two full turns higher than the 9.5 times multiple we paid for the whole of Knight Ridder -- demonstrates that these are strong newspapers with great value to companies whose strategies fit them.

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