Newspapers' fall from grace

Forbes has a profile of McClatchy Co. after its absorption of Knight-Ridder that's titled "McClatchy's Fall From Grace." It includes this data point: "The [share price] decline leaves McClatchy, the nation's third-largest newspaper publisher by daily circulation, with a market capitalization of barely $1 billion."

That's about what McClatchy paid for the Star Tribune in 1998.

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