A story on Page D2 Wednesday incorrectly described the
involvement of the Newspaper Guild in bidding for Knight Ridder
newspapers. The union has orchestrated a bid for 12 Knight Ridder
newspapers being sold by McClatchy Co., but the union is not the
bidder. The bidder is Yucaipa Companies, a California private equity
firm. The union solicited Yucaipa as a friendly buyer that would, in
turn, offer the newspapers' employees an ownership stake through an
employee stock ownership plan. Yucaipa would own 100 percent of the
newspapers at first, but over time employees investing through
retirement savings plans would gain an increasing ownership stake. Link
An article in Business Day on Monday about the McClatchy Company's
offer of 12 Knight Ridder newspapers for sale misidentified the
publication that said the Times-Shamrock Company was a logical buyer
for The Times Leader, a Knight Ridder paper in Wilkes-Barre, Pa. It was
The Citizens' Voice of Wilkes-Barre, not The Times Leader. Link
On Business Page D1 Friday, a story about the 12 newspapers The
McClatchy Co. is selling as part of its purchase of Knight Ridder Inc.
was accompanied by a graphic that incorrectly referred to the number of
daily and Sunday readers for those papers. The numbers in the graphic
represented the daily and Sunday circulation. Link
Follow the whole trail by starting here.
