While Knight Ridder’s earnings report was sloppy with weak December trends, I am surprised the shares would trade down 2% given that the investment case is totally controlled by the auction underway for the company. On this front, management led off the call by announcing it would take no questions. One analyst did have the […]
It would be very surprising if anything of substance came from the earnings release and conference for the 4Q05 report by Knight Ridder (KRI). First, the company is in the midst of an auction with presentations being made to a number of interested industry and private equity buyers. This will probably restrict what management can […]
Reuters posted an update on the Knight Ridder (KRI) bidding process. The deal is described as “slow moving,” with multiple bidders and a timeline that extends to February. Price talk is the mid $60s to low $70s. The article is well informed, in my opinion. A deal at that level provides some downside support for […]
I don’t think Knight-Ridder (KRI) is likely to receive a takeover much more than 10% above the current price. Further, I don’t think the current situation surrounding KRI is likely to kick off a round of takeovers in the newspaper industry. Assuming KRI gets a bid, which is not guaranteed, it will provide support for […]
Knight Ridder (KRI) reported results in line with reduced expectations following management’s lower guidance a month ago. Excluding unusual items EPS came in at 67 cents, down 18% from a year ago. Revenue was flat and shares outstanding were down about 10% so the problem in the quarter relative to its industry peers was on […]
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