Sacramento, Calif.—Eleven down, one to go. McClatchy Co. said Thursday it has reached agreements to sell five of the six remaining Knight Ridder newspapers it plans to divest for about $450 million.
The latest selloff comes less than a month after a group of Philadelphia investors agreed to buy The Philadelphia Inquirer, Philadelphia Daily News and Philly.com from McClatchy for $562 million.
The newspapers being sold in the latest wave of deals are the Akron (Ohio) Beacon Journal, American News (Aberdeen, (S.D.), Duluth (Minn.) News Tribune, Grand Forks Herald (North Dakota) and News-Sentinel (Fort Wayne, Ind.).
The Akron paper was bought by Sound Publishing Holdings, a subsidiary of Black Press, a private company based in Victoria, British Columbia.
McClatchy sold the News-Sentinel to Ogden Newspapers, a family-owned company based in Wheeling, W.Va.; the Duluth News Tribune and the Grand Forks Herald to Forum Communications Co. of Fargo, N.D.; and the American News to Schurz Communications of South Bend, Ind. Financial terms for each deal were not disclosed.
McClatchy said it expects to announce the sale of The Wilkes-Barre (Pa.) Times Leader in the next few weeks.