MediaNews to Buy <i>Herald</i>

By Ben Adler

Monterey, CA – The Monterey County Herald will have a new owner this summer - Denver-based MediaNews. Knight Ridder agreed to sell all of its newspapers - including the Herald and San Jose Mercury News - to the McClatchy Company last month. McClatchy announced Wednesday it would re-sell four of those papers. MediaNews will pay a billion dollars in cash - with backing from the Hearst Corporation. KAZU's Ben Adler reports.