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Burkle’s bid: $2.2 billion (!)

LA-based Ron Burkle’s bid for the twelve Knight Ridder newspapers for sale is reported to range as high as $2.2 billion, handily beating the valuations of many Wall Street analysts, and equaling about ten times the papers’ cumulative yearly cash flow. Decent money for a supposedly dead medium.

Mediabistro Course

Magazine Writing

Magazine WritingStarting September 4, learn how to get your work in top publications! You'll learn how to create captivating stories editors will want and readers will love, understand which magazines are right for your stories, craft compelling pitch letters, and more! You'll leave this class with two polished articles and corresponding pitch letters. Register now!