Lockyer to Investigate McClatchy Sale to Hearst
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The office of California Atty. Gen. Bill Lockyer said it would not take antitrust action over McClatchy Co.’s sale of two newspapers to MediaNews Group Inc. but would investigate a related three-way transaction between the companies and Hearst Corp.
McClatchy this month sold the San Jose Mercury News and the Contra Costa Times to MediaNews after acquiring them in its $4.3-billion purchase of Knight Ridder Inc. in June.
The attorney general’s office said it would examine McClatchy’s sale of the Herald in Monterey County, and the Pioneer-Press in St. Paul, Minn., to Hearst.
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