FRIDAY, MARCH 10, 2006
NEWS
THE UNIVERSITY DAILY KANSAN
A student of science
Anna Faltermieier/KANSAN
Hayden Krone, 3, of Queen Creek, Ariz., checks out a dinosaur exhibit in the Natural History Museum Thursday afternoon. Krone went to the museum with his mother, grandmother and older sister." He loves dinosaurs and he tells me about all the names of different ones we see," his grandmother said.
Knight Ridder sale close to completion
MEDIA
BY SETH SUTEL
THE ASSOCIATED PRESS
NEW YORK — Final bids were coming due for Knight Ridder Inc. Thursday, the end of a process that could not only determine the future of the No. 2 newspaper publisher in the country but also provide an important read on investor sentiment toward the industry.
The San Jose, Calif.-based company is keeping quiet about
the sale process, but the interested parties are known to include The McClatchy Co., publisher of The Sacramento Bee and other newspapers; industry leader Gannett Co. as well as MediaNews Group Inc., a privately held company based in Denver.
At stake is the ownership of 32 newspapers throughout the country, including The Kansas City Star, The Philadelphia Inquirer and the Miami Herald. Knight Ridder
At that price, the price would reflect about 10 times the company's cash earnings per share last year, below the historical average takeover price in the industry of 12 to 15 times trailing earnings. Fine wrote.
was forced to put itself up for sale last November by its largest shareholders, who were frustrated with the company's lagging share price.
ly negative recently over concerns about declining circulation trends and the migration of readers and advertisers to the Internet.
With Knight Ridder's stock trading in the low-$60 range recently, investors are not expecting a ferocious bidding war for the company. Merrill Lynch analyst Lauren Rich Fine wrote in a note to investors that if birds come in at the expected range of mid-$60s per share, it would be
"unlikely to excite investors."
Many investors will be looking to what price, if any, Knight Ridder may choose, to sell itself at to gauge investors' outlook on the newspaper industry, which has been large-
However, some investors say Knight Ridder's case has several special circumstances that may not apply to every case, including several papers in suffering markets such as Philadelphia and Miami, which may help account for a multiple that could be below historical averages.
Pre-party to kick off Safe Spring Break
This year's Safe Spring Break campaign will kick off with a pre-party and free vehicle inspections on Saturday.
The dual event will be held from 11:30 a.m. to 2 p.m. on the north lawn of the Student Recreation and Fitness Center. Bob's Auto Maintenance and Slimmer's Auto Service will perform the inspections.
Self-defense workshops, sponsored by New Horizons Tae Kwon Do, will be held at 1 p.m. Monday and 3 p.m. Wednesday at the recreation center and at 5 p.m. Friday at New Horizons, 2329 Iowa St.
Safe Spring Break will also include other events and information boots throughout the week. Catherine Odan
ENTERTAINMENT Willmott's film CSA reopens at Liberty Hall
A red carpet entrance will welcome Kevin Willmott, KU
assistant film professor, and other cast and crew members to the showing of his film, "CSA: Confederate States of America" The University's Film and Theater Department will host a reception at 6 p.m. as well as a question-and answer session with Willmott following the screening.
Willmott's independent film, "CSA: Confederate States of America," will open at 8 tonight at Liberty Hall, 644 Massachusetts St.
Willmott's film describes what the country would be like if the South had won the Civil War and how the legacy of slavery is still present today. It has been nationally acclaimed by The Los Angeles Times, Entertainment Weekly, People Magazine and The Boston Globe. It's now being shown in 50 markets nationwide.
— Nicole Kelley