KRI dropped from Media Index

© 2006 The Associated Press
NEW YORK — Knight Ridder Inc. will be removed from the Dow Jones Media Titans 30 Index following the newspaper publisher's recent acquisition by rival McClatchy Co., Dow Jones said Friday.

News Corp., the media conglomerate owned by billionaire Rupert Murdoch, will replace Knight Ridder in the index at the start of trading next Wednesday, Dow said.

Standard & Poor's on Friday said it also removed Knight Ridder from its S&P 500 index.

Knight Ridder shares fell 49 cents to at $60.94, while News Corp. added 13 cents to finish at $19.72 on the New York Stock Exchange.