The McClatchy Co. could be on track to write off half of the $4.4 billion it paid for the Knight Ridder newspapers it proudly acquired in the summer of 2006.
When the Knight Ridder deal was announced, McClatchy shares were worth $4.4 billion. Since then, McClatchy's value has shrunk, even as its debt has increased. Mutter predicts "agressive new cost costs" in 2008. As they say, read the whole thing.
