Wednesday, March 18, 2009
The man who destroyed Knight Ridder retires
Bruce Sherman, who forced Knight Ridder to sell its newspapers in 2006 because he wasn't getting enough of a return in his investment, will retire next month at age 61, The New Republic reports. He bought high and sold low, losing billions for the investors in his fund and destroying previously healthy newspapers along the way. He forced Knight Ridder to sell its papers to McClatchy. McClatchy later sold its Knight Ridder papers in the Bay Area to MediaNews for $1 billion.
Posted by San Francisco Peninsula Press Club at 12:01 AM