Lockyer to Investigate McClatchy Sale to Hearst
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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