In keeping with the falling value of newspapers nationwide, McClatchy's estimated value of its share of The [Seattle] Times has been eroding steadily. McClatchy acquired the Times share when it bought Knight Ridder in June 2006. In 2006, McClatchy valued its Times investment at $102.2 million. At the end of 2007, the value had fallen to $19.3 million.
The McClatchy Co., which owns 49.5 percent of The Times, has again cut the value of its share of the Seattle newspaper company -- this time to nothing. link