Equity firms, McClatchy consider bid for KR

BOARD MEMBER SAYS GANNETT HAS ‘FULL PLATE’

An alliance of private equity firms and the McClatchy newspaper group are both considering entering the running to buy Knight Ridder, according to people familiar with the situation.

In addition, a board member of Gannett, the nation’s largest newspaper company, said Thursday the company is not planning at this time to bid on Knight Ridder, the San Jose newspaper company facing a shareholder revolt demanding the company be sold.

Knight Ridder spokesman Polk declined to comment.

One week before preliminary ‘‘ expressions of interest’’ are due from parties considering buying Knight Ridder, the nation’s second- largest newspaper group and owner of the Mercury News, it appears the company has yet to attract the type of lucrative bids envisioned by dissident shareholders.

Private- equity firms Blackstone Group, Providence Equity Partners and Kohlberg Kravis Roberts are considering a joint bid, according to a source with knowledge of the matter. But this group also reportedly is worried Knight Ridder is currently overpriced with its shares trading at $ 60.93 — giving the company a market value of $ 4.1 billion.

The first round of bids is not due until Dec. 9 and other bidders may still emerge who would be willing to pay higher premiums, even after the deadline passes. While Laffoon