06/18/2008 05:12 am ET | Updated May 25, 2011

Taking Papers Private No Easier Than Running Them Publicly

NEW YORK (Fortune) -- Brian Tierney was pretty cocky when he and a group of investors bought the Philadelphia Inquirer and its sister, the tabloid Daily News, for $515 million two years ago. The former public relations magnate vowed to boost circulation and revenue at the papers.

How would he do that when Knight Ridder, their former owner, had failed to do so before reluctantly selling itself to McClatchy Newspapers (MNI)?

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