From Alan Mutter: McClatchy's decline began when they began the purchase of Knight Ridder (KRI) in 2005.MNI’s stock has plunged to $15.87 a share yesterday from $64.78 on Nov. 8, 2005. That's roughly when the company began pursuing the KRI deal in what, ironically, turned out to be the last of the salad days for the newspaper business. If you multiply the decline in the stock price by the company’s 82.1 million publicly traded shares, you will see that $4 billion in real shareholder value has gone up in smoke.
