Behind the Headlines

Our newest reporter, Scott Sloan, deserves kudos for taking on a potentially treacherous assignment — writing about the possible sale of his employer, the Herald-Leader, and its corporate parent, Knight Ridder.

Despite their eagerness to dig into the closely held business secrets of other corporations, newspapers as an industry have been inexplicably wary of writing about their own internal affairs during a turbulent period of sales, swaps, closings and Draconian cutbacks.

Sloan, who has a master’s degree in business from the University of Kentucky, took on the assignment with all the zeal and skepticism that he might apply to an in-depth look at any major Lexington employer. He asked tough questions of the Herald-Leader’s publisher, Tim Kelly, and the editor. He pressed for answers from Knight Ridder’s corporate headquarters in San Jose, Calif. He examined Securities and Exchange Commission filings, talked to analysts and other industry experts and worked long nights with Business Editor Todd Wethall to put together the package in Sunday’s newspaper.

Why did we feel that this was an important story for our readers? Since November, rumors have been swirling locally and nationally about the possible sale of Knight Ridder and what it might mean for the company’s 32 newspapers. Because it is a publicly traded company subject to SEC regulation, Knight Ridder officials could not discuss what they called an “exploration of strategic alternatives,” including a possible sale. We knew that several local parties had made inquiries about buying the Herald-Leader, but no details emerged. With concern, some residents asked whether the Herald-Leader might go out of business. That is certainly not the case. Under any scenario, Lexington’s local newspaper will continue to publish.

We believed readers would benefit from knowing a little more about our business and the pressures that have affected the product. Long before November, readers began to notice cutbacks in space for different sections of the newspapers. We got complaints about trims in our stock tables, a cutback in the size of the Opinions & Ideas section and the revised TV book. Fewer reporters were on hand to cover stories throughout the region, and the number of editors available to read and check their copy had declined.

We began to realize that while our staff knew the reasons for these cost-saving measures, the average reader had little idea how our industry was coping with cataclysmic change. All they knew was that the product they were buying was different — and sometimes, disappointing.

We hope that Sloan’s story offers not just an explanation for some of the changes you’ve been seeing but a primer on an industry that is rapidly evolving. Our ability to adapt and to look creatively at the challenges will ensure that the Herald-Leader continues to be a strong voice of local news.

Marilyn Thompson
Editor