McClatchy Favorite in Knight Ridder Auction; Valuing At $45 Billion

The results will soon be clear in the Knight Ridder bidding saga: WSJ reports that newspaper company McClatchy Co. appeared to be a lead runner, offering a combination of cash and stock valued at more than $65 a share, or more than $4.35 billion.

As of last night, the story says, MediaNews Group was fading from the scene and a large private-equity group including Texas Pacific Group and Thomas H. Lee Partners was showing an indication of interest — albeit at a lower, all-cash price.

Stay tuned…

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