And the Winner Is....

Knight-Ridder -- owner of the major daily newspapers in Philadelphia, Miami, San Jose, St. Paul, Kansas City, et al. -- acquired by McClatchy (owner of the California "Bee" papers and the Minneapolis Star-Tribune) for an amount in the area of $4.5 billion.

The bid caps a season of fevered speculation in this town since KR put itself on the block early last fall.

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