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KR stays with Free Press

Published on .

Knight-Ridder, parent of the Detroit Free Press, said that despite multimillion-dollar losses from the four-month strike against the Free Press and the Detroit News, it won't close the newspaper. Though the papers have continued to publish during the strike, Knight-Ridder expects to lose $33.6 million after taxes in the second half of this year, Chairman P. Anthony Ridder said, citing lost circulation and advertising revenues and increased security costs. Mr. Ridder also said he believes Gannett Co., owner of the News, was equally committed to staying in business in Detroit.

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