Portfolio
Tony Ridder (left) speculates that money manager
Bruce Sherman put heat on Knight Ridder hoping that Gannett would jump in with a premium all-cash offer for the chain -- giving Sherman a face-saving exit for his clients with KRI holdings.
Gabriel Sherman writes: "Indeed, Ridder asked Sherman why he had singled out his company for a forced sale, given his huge investments in other newspapers’ stocks. The reply (according to Ridder): 'You're not big enough to buy Gannett, but they’re big enough to buy you.'"
