Media News gets even more news for $1 Billion

We didn't know newspapers can go for this much but $1 Billion in cash is what the McClatchy Company will get for four papers. This is just part of McClatchy's we bought it but we don't want it move to raise quick cash. These papers are like foster children. They will pass through many hands before they land at a permanent home. In one deal, McClatchy announced that it would sell The San Jose Mercury News and The Contra Costa Times, both in California, to Media News and a partnership that includes the Gannett Company, the country's largest newspaper chain, and the Stephens Group, based in Arkansas. McClatchy said it would also sell The Pioneer Press in St. Paul and The Herald in Monterey County in California, to Hearst. This story only get more complicated. More....