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The McClatchy Company is an American Publishing company based in Sacramento, California , that operates a number of Newspaper s and Website s. HISTORY The company originated in ''- St. Paul 's '' Star Tribune '', acquired in 1998 and sold again in 2006, had the highest circulation of all McClatchy newspapers. The company has two classes of stock, allowing the founding McClatchy family to retain control. In the Knight Ridder purchase, for example, McClatchy shareholders didn't need to act at all in approving the purchase because the family had already voted their shares in favor. Most of the company's history has been in newspapers of the Golden State's Sacramento Valley and San Joaquin Valley . It acquired its first out-of-state newspapers in 1979 and through acquisitions has grown into a nationwide company. In its first moves outside its home state, McClatchy bought the '' Anchorage Daily News '' in Anchorage, Alaska , and the '' Tri-City Herald '' in Kennewick, Washington in 1979. In 1990, McClatchy acquired three dailies in '' in Rock Hill , '' The Island Packet '' in Hilton Head , and '' The Beaufort Gazette '' of Beaufort . In 1995, it acquired '' The News & Observer '' of Raleigh, North Carolina . In 1998, it bought the '' Star Tribune '' of Minneapolis . In January 2004, McClatchy bought the '' Merced Sun-Star '' of Merced , and five affiliated non-dailies in California's San Joaquin Valley . McClatchy purchased Knight Ridder, formerly the United States' second-largest chain of daily newspapers, on June 27, 2006. The purchase price of $40 per share and 0.5118 shares of McClatchy Class A stock is valued at about $4 billion in cash and stock and assumption of $2 billion in debt. This purchase added 20 papers to be retained with immediate sale of 12 publications, including the '' San Jose Mercury News '' and '' The Philadelphia Inquirer ''. Those sales were completed on Aug. 2, 2006. Editor and Publisher reported in October 2006 that McClatchy revenue ending August 2006 was down over one percent from August 2005. Since the announced purchase of Knight Ridder in March of 2006, the stock of McClatchy (MNI) has declined significantly. http://finance.yahoo.com/q/bc?s=MNI&t=1y In the first quarter of 2007, McClatchy sold the Star Tribune to private-equity firm Avista Capital Partners for $530 million. McClatchy has an Internet subsidiary, McClatchy Interactive (formerly known as ''' Nando Media '''), which provides business support and material for Internet media nationwide (part of the News & Observer purchase). Other operations include '''Newsprint Ventures Inc.''', a consortium that operates the Ponderay newsprint mill near Spokane, Washington . As of 2004, the company has about 9,300 employees. DAILIES
DAILIES ACQUIRED IN KNIGHT RIDDER PURCHASE AND SOLD
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