Revised: Knight Ridder Presents at Media Week Conferences

Revised: Knight Ridder Presents at Media Week Conferences

NEW YORK, Dec. 9 /PRNewswire-FirstCall/ -- Knight Ridder (NYSE:KRI) executives, speaking at two media conferences in New York City, said Wednesday that company advertising revenue for November was up 6.6% from the same period a year ago, and that they are comfortable with the current earnings consensus of $1.29 for the fourth quarter of 2004.

Tony Ridder, chairman and CEO, and Steve Rossi, senior vice president and chief financial officer, said that they anticipate advertising revenue growth in 2005 to be "in the mid-single digits." They said they anticipate earnings per share growth for 2005 to be "in the mid-to-high single digits."

Tony Ridder did not provide category breakdowns of the November numbers. The company will issue its customary monthly statistical report the week of Dec. 13.

They said that for 2004 as a whole, they are now projecting total ad revenue up "roughly 3%," with retail up 1.2%, national in the "low single digits" and classified up 5.5%.

Ridder stressed the success of the company's new revenue initiatives throughout 2004. "With a stated goal of 30 million incremental dollars from them this year, we now anticipate closer to $50 million when all is said and done," he said.

"Among the successes have been specialized print publications, expanded zoned editions, increase in sales staff, expansion of our online auctions and greater leverage achieved through combined print/online products."

He said that circulation revenue for 2004 would decline by about 2.5%, and that the circulation revenue decline in 2005 "would be about half that much." He said that in 2005 the company will focus on growth in home delivery and single copy.

Rossi said that the company is budgeting newsprint, ink and supplements up in the high-single digits for the coming year. He said newsprint itself would be up in the low-double digits.

Certain statements contained in this report are forward-looking. They are based on management's current knowledge of factors affecting Knight Ridder's business. Actual results could differ materially from those currently anticipated, depending upon -- but not limited to -- the effects of interest rates, of national and local economies on revenue, of the evolution of the Internet, of unforeseen changes in the price of newsprint and of negotiations and relations with labor unions.

Knight Ridder is the nation's second-largest newspaper publisher, with products in print and online. The company publishes 31 daily newspapers in 28 U.S. markets, with a readership of 8.7 million daily and 12.6 million Sunday. Knight Ridder also has investments in a variety of Internet and technology companies and two newsprint companies. The company's Internet operation, Knight Ridder Digital, develops and manages the company's online properties. It is the founder and operator of Real Cities (www.RealCities.com), the largest national network of city and regional Web sites in more than 100 U.S. markets. Knight Ridder and Knight Ridder Digital are headquartered in San Jose, Calif.


Source: Knight Ridder

CONTACT: Polk Laffoon, Vice President/Corporate Relations,
+1-408-938-7838, or plaffoon@knightridder.com, or Lee Ann Schlatter,
Director/Corporate Communications, +1-408-938-7839 or
lschlatter@knightridder.com, both of Knight Ridder

Web site: http://www.knightridder.com/


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