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Thursday, December 22, 2005

Merry Christmas Knight-Ridder! (KRI)

Or should I say: Merry Competitive Bidding Situation! Who cares, it's all good for those guys. This article in Boston.com indicates there will be numerous private equity and strategic (other newspaper co's) bidding to gain control of KRI. This is a good thing for KRI's shareholders. I'm curious to find out what will happen to all of the great Internet assets that Knight Ridder Digital has assembled. That is the real prize embedded in this company -- CareerBuilder.com, Cars.com, ShopLocal.com, RealCities.com, etc... I don't know how integrated all of these assets are with KRI's newpaper assets and how difficult it would be to separate them from the pack.
KRI's sale process is going to be a classic and I can't wait to see the twist and turns that lie ahead in this plot. It's likely the deal could get done quickly if Gannett moves authoritatively and offers a "strategic" bid. However, I think there is a good chance that there will be a substantial amount of drama.
Happy Holidays Everybody!!!

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