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McClatchy Expands Its “Keep The Best And Leave The Rest” Doctrine To Dumping Its Largest Newspaper At A Huge Loss, Something For The New York Times Company To Ponder With The Boston Globe?
Philip M. Stone January 8, 2007
McClatchy stunned the US newspaper world as 2006 drew to a close by selling The Minneapolis Star Tribune to a private equity firm, Avista Capital Partners, for $530 million -- less than half what it paid the Cowles family just six years ago. Even with a $160 million tax loss the inevitable question is why sell so low and now, and what does that mean to newspaper valuations?

 

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