The big news of the day is that Knight Ridder Company is being sold for $4.5 billion to the McClatchy Company.
KRC, not to be confused a spurious take on ultrafine KFC, has about 32 dailies in 29 markets, with a daily circulation of 3.3 million. If you discount all the internet holdings in properties like Career Builder, the value of the deal is about $1400 per subscriber. That is still way higher than any deal for web property in recent times. Internet advertising boom or not, dead trees still are expensive…. very expensive. I guess there is still no place for Macy’s to put advertisements for its unending sales.