互联网发展迫美第二大出版商寻买家_经济Business
san francisco - knight ridder inc.'s largest shareholder wants the nation's second-biggest newspaper publisher to seek a buyer, contending there are few other options left for a company that has been rapidly losing favor with investors as more advertising shifts to the internet.
private capital management lp, which owns a 19 percent stake in knight ridder, made the demand tuesday in a letter addressed to the company's board.
pcm's letter reflects its frustration with a steep slide in knight ridder's stock. the shares have steadily declined from a 52-week high of $71.01 last november, trading at $52.42 less than two weeks ago — a 25 percent decline that wiped out $1.7 billion in stockholder wealth.
pcm's letter didn't identify what it would consider to be a fair price for knight ridder, but asserted that the company's own board already has determined the newspapers' break-up value exceed their current market value.
private capital management lp, which owns a 19 percent stake in knight ridder, made the demand tuesday in a letter addressed to the company's board.
pcm's letter reflects its frustration with a steep slide in knight ridder's stock. the shares have steadily declined from a 52-week high of $71.01 last november, trading at $52.42 less than two weeks ago — a 25 percent decline that wiped out $1.7 billion in stockholder wealth.
pcm's letter didn't identify what it would consider to be a fair price for knight ridder, but asserted that the company's own board already has determined the newspapers' break-up value exceed their current market value.