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Article: Knight Ridder executives to receive nearly $57 million, filing shows.
- Article from:
- San Jose Mercury News (San Jose, CA)
- Article date:
- May 10, 2006
CopyrightCOPYRIGHT 2006 San Jose Mercury News. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Byline: Pete Carey
SAN JOSE, Calif. _ When Knight Ridder is sold to McClatchy this summer, its corporate executives will leave the San Jose-based newspaper company with nearly $57 million in incentive payments, according to a government filing made Wednesday.
About $27 million will be paid to the top five Knight Ridder executives with the balance going to "other executive officers."
The payments were disclosed in a Securities and Exchange Commission filing by McClatchy, which is buying Knight Ridder for $4.5 billion and assuming $2 billion in Knight Ridder debt.
A Knight Ridder shareholders' meeting is scheduled for June 26 to vote on ...