McClatchy wins bid for Cowles Media

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McClatchy Newspapers emerged as the surprise winner in the bid for Cowles Media. In a deal struck the week of the 10th reported to be worth $1.4 billion, estimated at 10 to 11 times 1998 cash flow, McClatchy will add the Minneapolis Star-Tribune to its 10 other dailies.

Copyright November 1997, Crain Communications Inc.

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