Shareholders are taking an interest in their shareholdings.
Onésimo Alvarez-Moro
See article:
Knight Ridder Inc.'s largest shareholder wants the nation's second-biggest newspaper publisher to seek a buyer, contending there are few other options left for a company that has been rapidly losing favor with investors as more advertising shifts to the Internet.
Private Capital Management LP, which owns a 19 percent stake in Knight Ridder, made the demand Tuesday in a letter addressed to the company's board.
"In light of limited revenue growth across the newspaper industry and the difficulties the company has faced in realizing fair value...for its shareholders, we believe the board should now pursue the competitive sale of the company," wrote Bruce Sherman, PCM's chief executive officer.
See full Article.
Posts
