The Associated Press reports that Clinton Reilly, a millionaire real estate investor, is suing to prevent McClatchy Inc. from completing a $737 million deal to sell three of the Bay Area newspapers it picked up in its recent acquisition of Knight Ridder Inc.
The proposed deal "will result in the defendants' control of every major newspaper in the greater Bay Area," Reilly's attorney, Joe Alioto, said in a statement. That will result in higher rates for subscriptions and advertising, more-limited news and editorial coverage and decreased newspaper quality, he said.
For some food for thought, check out John McManus at Grade the News.
Posted by cmatthews at July 15, 2006 03:47 PM
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Kudo's to one of the only "family owned" papers left in this state...
Interesting the priority of concerns started with higher rates for subscriptions, then concern over advertising rates, and then finally limited news and editorial coverage. That would have been my first concern....
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