Knight Ridder buys Minn., Wis. Papers

Posted Tuesday, May 25, 2004 12:00 am

By: E&P Staff Knight Ridder announced today that it has purchased four papers in Minnesota and Wisconsin: The Daily Telegram (Superior, Wis.), the Budgeteer News (Duluth, Minn.), The Pine Journal (Cloquet, Minn.) and the Lake County News Chronicle (Two Harbors, Minn.). The company also bought portions of Manney's Shopper, which serves some of the areas of the other four properties.

Terms of the deal were not disclosed, according to the Duluth News Tribune, a Knight Ridder-owned paper that first reported the purchase. Mac Tully, vice president of operations for Knight Ridder, said in the paper, "Part of our current strategy involves looking into markets we're already in to find synergies with suburbans or shoppers."

For now, no staff cuts are planned.

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Knight Ridder buys Minn., Wis. Papers

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