Hurry Up and Speculate

It’s Bidding Day!

By Shea Andersen, 3-09-06

Today is the day that the Knight-Ridder Corporation takes bids on its holdings, among them the Idaho Statesman.

Don't, however, expect a whole lot of handwringing about this: today is merely the first movement in what is going to be a drawn-out opera of business maneuverings.

Still, the news is abuzz with talk and speculation about what's going to happen to the newspaper chain with a hold on Idaho's biggest daily.

I heard it when the alarm went off this morning, from National Public Radio. They quote conflicting execs saying the papers won't be sold separately, but they won't all stay under one umbrella, either. You figure that out.

The Associated Press, per The Seattle Times, calls it "a moment of reckoning," when the paper biz finds out just what it's worth. Hide the mirrors!

Editor and Publisher found that the Newspaper Guild was still interested, darn it, even though they don't expect to win the auction. While your head forms a silent "Huh?" read on to find out just how they think they'll pull a win out of this.

Looking for the latest? Well, we blush. We'll try. Updates, yes, we'll try 'em. But also, you might read the Los Angeles Times today, to see them try to tick-tock their way through this business to find, well, it will take a few days.

Updates: Okay, it took me a few minutes to put the above together. And I was proud. Now, I recognize myself as an utter rookie. I turn it over to Lou Alexander, the "non-professional aggregator" and K-R employee who has made this business his calling.

But if you want more newsy news, go to The New York Times already. They say McClatchy is the one.

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