Newspapers are not dying. That's just wrong, and we are going to prove it wrong together.
Newspapers are holding on to their national audiences better (than other media), but the negative side is we're more difficult to buy. The industry is aware of it.
I know what the conventional wisdom is. We hear it all the time: Newspapers are dead. That's all we hear. ... That's just wrong, it really is wrong.
We do think that retail will continue its sluggish performance and we're working hard to make sure that we're getting more smaller ads in the newspapers to make up for that,
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.
We expect each of our papers to get better every year and work toward becoming the best in the company of its size.
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.
Finding the right home for these papers has been a high priority for us.
The conventional wisdom is that newspapers are dead. That's the view out there, but it couldn't be more wrong.
We don't know how these will be sold or the exact structure. ... We have begun marketing these papers today. We have received inquiries already.