Knight Ridder's Largest Shareholder Wants Out

You can manage decline only so far before your company crumbles. Case in point: Knight-Ridder, Inc, the second largest newspaper chain in the U.S. Is Knight Ridder crumbling? Look how the crumbs are starting to fall. The crumb was today’s announcement by Private Capital Management, Knight Ridder’s the largest institutional shareholder, urging the newspaper company’s board of directors to put the company up for sale. In other words, Private Capital Management, which owns nearly 19 percent of Knight Ridder, wants out. Private Capital Management said a sale should be pursued, “in light of limited revenue growth across the newspaper industry […]