Auction of KR newspapers is going “wonderfully,” says analyst

Sacramento Bee
The five Knight Ridder papers sold Wednesday fetched about 11.1 times cash flow — roughly the same average multiple as all of the papers sold by McClatchy so far. By contrast, McClatchy is paying 9.5 times cash flow for all of KR. An investment banker tells Dale Kasler that the difference suggests that KR may have been worth more if it had been sold in smaller pieces than in one big gulp.
> Rieder: Not much is known about Beacon Journal’s new owner (AJR)

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