By: Staff reports
Company Adopts Stock Option Plan
Knight Ridder has completed separation of its Internet assets into its own business
unit, KnightRidder.com, the company announced. The move prepares the company for
‘the creation of a new publicly traded stock for its Web division, but there’s no
word on when it might happen.
Knight Ridder Chairman and CEO Tony Ridder also announced the formation of a new stock
option for employees of KnightRidder.com. KnightRidder.com President Dan Finnigan said
the options would allow the company to ‘attract and retain top performers.’ There were
no details on how the options would be distributed.
KnightRidder.com’s separation will be complete at the end of March. The division
operates Real Cities, a network of portals in 31 U.S. markets.
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