Hobbled newspaper publisher Knight Ridder, which is up for auction, appears as though it will attract a bid from a trio of high-profile private-equity firms, reports The Wall Street Journal. The
alliance is comprised of the Blackstone Group, Providence Equity Partners, and Kohlberg Kravis Roberts. While the buyout firms have an interest in KR, they are concerned that the $4 billion market
capitalization is too high for the San Diego-based publisher of the Miami Herald, Philadelphia Inquirer, and 30 other papers. The "formation of the consortium represents a small but telling sign of
interest for an auction that has been expected to be a difficult one" for KR, the Journal says.
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