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McClatchy sets stage to resell 12 papers it’s buying

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    • New York Times Tags : Posted: Wednesday, Mar 15, 2006 at 0116 hrs

    Wall Street reacted negatively to news of the sale. Knight Ridder closed down $1.08 in trading, at $63.92, and McClatchy closed down $1.51, at $51.55. Because of the decline in McClatchy shares, the value of the deal to Knight Ridder shareholders declined to $66.38 from $67.25.

    KATHARINE Q. SEELYE

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