Knight Ridder to miss profit targets in first quarter

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New York--In yet another sign of the continuing weakness in advertising spending Knight Ridder Inc., whose 32 daily newspapers include the San Jose Mercury News and The Philadelphia Inquirer, reported Friday that operating revenue fell 11 percent in January compared with the same month last year. The company also reported that ad revenue fell 13% in January compared with a year earlier, with classified ad revenue tumbling 24%.
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