Knight Ridder, publisher of the Fort Wayne News-Sentinel and majority principal of Fort Wayne Newspapers is in the final stages of weighing various proposals for sale of the company.
However, an unusual provision in Knight Ridder's corporate charter will make it difficult for the company to move forward in a timely way in evaluating various purchase offers. The San Jose Mercury-News has reported that Knight Ridder is required to assemble an outside panel to evaluate the proposals to ensure that any prospective purchaser will maintain the "journalistic excellence" of KR.
How does one assemble a disinterested panel to undertake that task?
See the Mercury-News story here.