Gary Pruitt
Gary Pruitt
Gary B. Pruittis the President and CEO of the Associated Press and was the CEO, president, and chairman of the board of the McClatchy Company...
companies fit full great higher knight multiple newspapers paid strategies strong turns value whose
The 11.5 times multiple -- which is two full turns higher than the 9.5 times multiple we paid for the whole of Knight Ridder -- demonstrates that these are strong newspapers with great value to companies whose strategies fit them.
becoming best company expect papers toward work year
We expect each of our papers to get better every year and work toward becoming the best in the company of its size.
fit operating simply standing terrific
These are terrific publications but simply do not fit with our long- standing acquisition and operating strategies.
care fit retaining sell sorry
We care who we sell to, and we care about these papers. We are sorry that we're not retaining them and that they don't fit, but they will fit other companies' strategies.
ads continue hard newspapers performance retail sluggish smaller sure
We do think that retail will continue its sluggish performance and we're working hard to make sure that we're getting more smaller ads in the newspapers to make up for that,
change
We can't change a market, but we can change a newspaper.
amount cash debt given good relative return small time
Given the company's small amount of debt relative to its cash flow, this is a good time to return cash to our shareholders.
numbers reason reported star
We see no reason to restate any circulation numbers reported by the Star Tribune,
ability delighted deliver finding high highlights home knight papers priority quickly sales selling since
Finding the right home for these papers has been a high priority for us since the announcement that we would be selling 12 of the Knight Ridder newspapers. This transaction highlights our ability to deliver quickly on our divestiture plan, and we are delighted with the sales price.
finding high home papers priority
Finding the right home for these papers has been a high priority for us.
newspapers prove wrong
Newspapers are not dying. That's just wrong, and we are going to prove it wrong together.
audiences aware difficult holding industry national negative newspapers side
Newspapers are holding on to their national audiences better (than other media), but the negative side is we're more difficult to buy. The industry is aware of it.
athletic facility priorities
Football, soccer, rugby, lacrosse are going to probably be the priorities from an athletic facility standpoint,
possible
It's possible that (contract farming) could go another year.