Yucaipa will get detailed info on 12

Yucaipa Companies will gain access to detailed financial information about the 12 Knight Ridder newspapers McClatchy is selling.

The Los Angeles private equity firm, allied with the Newspaper Guild in a bid for the papers, has signed a confidentiality agreement with McClatchy, the Guild confirmed Tuesday.

The agreement lets Yucaipa review Knight Ridder financial data on the papers ``as they come to market along with other interested parties'' according to Linda Foley, president of the Newspaper Guild.

The reference to papers ``as they come to market'' suggests McClatchy may be selling the papers in groups or stages to different buyers, possibly believing it can obtain more money that way.

McClatchy is selling the papers to help finance its $4.5 billion purchase of Knight Ridder.

``It's a good thing that they're letting our advisers and Yucaipa have access to the financials,'' said Foley. ``That's what we were missing. It sounds like the process is moving forward.''

The Guild had lobbied McClatchy to allow Yucaipa to sign an agreement for access to the financial data that bidders who entered the earlier process to buy all of Knight Ridder already had seen.

A McClatchy spokeswoman declined to comment, and has not provided details on how the sale of the papers will proceed.

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