McClatchy sells Wilkes-Barre ‘Times Leader’ to investor group

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Sacramento—Completing its plan to sell 12 newspapers it recently acquired from Knight Ridder, McClatchy Co. said it has reached a definitive agreement to sell the Times Leader in Wilkes-Barre, Pa., to a group of local investors and HM Capital Partners. Financial terms were not disclosed. In all, McClatchy will get about $2.1 billion from buyers of the dozen Knight Ridder newspapers it chose to divest, including the The Philadelphia Inquirer and San Jose Mercury News.

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