Detroit Free Press, 321 Lafayette Blvd W., Detroit MI 48231,
Tel: 313-222-6400, Fax: 313-222-5981. Circulation: 638,000.
This newspaper is owned by Knight-Ridder, Inc., a publicly-traded company
based in Miami which was ranked 194 on the Fortune 500 in 1991. It began in
1974 as a merger between Knight Newspapers (2nd largest newspaper group by
circulation) and Ridder Publications (3rd largest). After the merger they
expanded into television, radio, book publishing, on-line information systems,
and electronic publishing. In 1988 they purchased DIALOG from Lockheed for
$353 million. By 1992 they published 29 daily newspapers, with the Miami
Herald, Detroit Free Press, Philadelphia Inquirer, Philadelphia Daily News,
and San Jose Mercury News generating 50 percent of the company's sales.
Knight-Ridder lost over $90 million in Detroit during the 1980s because
of competition with the Gannett Company's Detroit News. After a 43-month court
battle, the Detroit Free Press signed a joint operating agreement with the
Detroit News in 1989. (Detroit News, 615 Lafayette Blvd W., Detroit MI 48231,
Tel: 313-222-2095, Fax: 313-222-2335.)
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