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A Year Later, Did Dean Singleton Pay Too Much For the Four Knight-Ridder Turkeys He Bought?
Philip Stone October 3, 2007
Dean Singleton paid a cool $1 billion cash last year for four Knight-Ridder newspapers he bought from McClatchy. Standard & Poors now says his Media News is in negotiations to ease loan financial covenants that require a certain ratio of debt to earnings and it has put the company on credit watch because revenue declines have exceeded even 'Lean Dean’s' cost cutting exercises. That, therefore, prompts the question that if he had to do it all over again would he?
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