Publishing Primed by Newspaper Deal

McClatchy's plan to buy Knight Ridder signals a change in momentum for the publishing subindustry. S&P thinks the worst may be over

The news hit the Street on the morning of Mar. 13: McClatchy (MNI) reached a deal to buy Knight Ridder (KRI), the second-largest newspaper publisher in the U.S. The planned acquisition is subject to necessary approvals. Knowing that there is no longer a stand-alone newspaper index (the Publishing & Printing subindustry index contains 15 book and newspaper publishers, as well as commercial printers), I wondered what the relative price performance for this larger group has been -- whether it was beginning to look attractive.

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