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Just When It Looks Like Big Newspaper Investors Are Trying Anything To Get Out Of the Segment Without Losing Their Shirts, Up Comes Highfields Capital Management Buying A 5.2% Stake In McClatchy
Philip M. Stone May 11, 2006
Maybe newspapers aren’t such a bad buy after all? One big hedge fund with significant newspaper holdings has disclosed it has just taken a 5.2% position in McClatchy that is in the process of buying Knight-Ridder. And that same hedge fund, Highfields Capital Management (HCM) also has a $142 million (3.3% stake) stake in Knight-Ridder.
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