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.
The real problem is structural: retail consolidation, difficulties in the classified auto space and competition from other media.
The probability is going up that there's going to be some kind of transaction involving Knight Ridder.
You're not going to see a (buying and selling) frenzy. For the time being it should ... give investors some comfort there is some value out there.
It's an orderly transition, I think. Jordan is taking a less visible role and the broadcast guys are assuming positions of power.
Houghton was the last 'independent' educational publisher left. To get into the school market, Houghton was the last one.