Contributed by: filbert Monday, June 16 2008 @ 10:53 AM CST
Barely a year after Sacramento, California-based McClatchy[*4] paid $4.6 billion for Knight-Ridder Inc. and sold the parts it didn't want, the publisher of the Sacramento Bee and Kansas City Star now has a stock price that's 31 percent lower than it was the day the acquisition closed. While the market has rendered an early verdict on the Knight-Ridder deal, McClatchy's financial statements don't reflect it.Perhaps if they didn't go out of their way to editorialize in their "news" articles[*5] , they might not be falling quite so fast. There is a place for muckracking. Perhaps that place is in news stories, but not until the "profession" of journalism owns up to their biases and drop the sham of "objectivity" that fewer and fewer people take seriously any more.
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