McClatchy To Acquire Knight Ridder

Knight Ridder (KRI) found a suitor in McClatchy (MNI) who would pay $4.5 billion in cash and stock and assume about $2 billion in debt to acquire the nation's 2nd largest newspaper publisher. Knight-Ridder shares lost $1.08 to close at $63.92 while McClatchy shares slipped $1.51 to close at $51.55.