McClatchy: Bad Timing?
McClatchy Newspapers now getting whacked by the big bet they made on Knight Ridder. From the most recent research report on the company from Merrill Lynch analyst Lauren Rich (known around here as “No Relation”) Fine:
The timing of the current advertising downturn has clearly made MNI’s job of digesting the KRI acquisition more difficult.
… it is difficult to get too enthusiastic for a company that has just doubled down in a challenged industry (by buying KRI).
Imagine what the analysts would be saying if they didn’t like McClatchy, and its CEO Gary Pruitt.
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