• Reuters, Monday, February 6, 2006 11:01 AM

From the viewpoint of troubled newspaper publisher Knight Ridder, it's not clear if this constitutes bad news or not, but industry heavyweight Gannett, which had been thought to be a bidder for the assets of KR, said late last week that it would not go it alone. If it makes an offer, it will be in an alliance with a partner. Reuters' Julie MacIntosh says Gannett "may try to forge some sort of agreement with Denver-based publisher MediaNews Group and its investment partners." MacIntosh says MediaNews' group is regarded as "strong... because it combines [its equity partners'] financial firepower with MediaNews' management expertise." Since Gannett and MediaNews have worked together on joint ventures in the past, there's speculation that they could forge an alliance to purchase Knight Ridder. However, notes Reuters, "the auction for Knight Ridder could become less competitive and attract less lucrative offers without Gannett as a separate bidder."

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