WEDNESDAY, DECEMBER 7, 2005
Wall Street Journal
Much will depend on the character of Knight Ridder's purchaser -- if, indeed, there is one, says
F. Jack Liebau, president of Liebau Asset Management. "If a new owner takes a strictly short-term view, disregarding editorial quality and community concerns, the company's franchise value will diminish. If, however, the purchaser works to increase readership (as McClatchy has done so successfully), and strives for editorial excellence (in the manner of Texas-based Belo and the Washington Post Co.), a more inviting prospect awaits, where newspaper managers will crow about Pulitzers, growing circulation, increased margins -- and higher stock prices."
Posted at 11:56:45 AM
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