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Businessman Sues to Block Sale of ‘Mercury News,’ Others

Published on July 14, 2006
Millionaire real estate investor Clinton Reilly plans to file an antitrust lawsuit today in the hopes of blocking McClatchy's planned sale of the San Jose Mercury News, Contra Costa Times and Monterey Herald, writes the AP. The lawsuit names MediaNews Group, the Hearst Corp, Gannett Corp. and Stephens Media Group as defendants. McClatchy, which acquired the three papers along with the rest of Knight Ridder's papers when it purchased the company in March, reached an agreement to sell the papers to MediaNews - with backing from Hearst and the other publishers - in late April.