Anyone else feeling whipsawed by some of the reports about Knight Ridder’s search for financial salvation? Last week it was a “rosy” view from management; this week, the Journal provides some of the details. Turns out that management presentation covers cuts above and beyond last year’s slashing that could lead to as much as $150 million in savings.
Based on sources familiar with the plan, the Journal says the “vision” relies on increasing pre-EBIDTA earnings about 20 percent to about $825 millionby mid-2007. To reach that level, the company sees a buyer relying on “streamlined” operations as well as a plan to reduce the physical sizes of some of Knight Ridder’s 32 daily newspapers. Not surprisingly, that strikes some buyers as “overly optimistic.”
Related: Knight Ridder: KR’s “Rosy” View Could Delay Bids; Singleton Stops By
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