McClatchy family to take back the company?

Yesterday I noted an odd upward jump in McClatchy shares the last minutes prior to closing. Turns out the jump was based on speculation the McClatchy family may take the company private.

McClatchy Co.’s controlling family may take the newspaper publisher private, said Michael Price, ranked 271 on Forbes magazine’s list of richest Americans. Price, president of MFP Investors LLC, said Thursday that the stock, which has lost 69 percent of its value this year through Wednesday, may fall further. “It’s up to the family to take it private at some point,” said Price, who owns shares. Shares of McClatchy, which owns The News Tribune, surged 97 cents, or 7.3 percent, to close Thursday at $14.20.

I'm thinking Gary Pruitt won't be around much longer.

UPDATE 12:35: Linked by Herald Watch, thanks!