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75% of Topix Acquired by Knight Ridder

12:25 pm on Mar 23, 2005 (gmt 0)

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Topix has been purchased by Knight Rider.



...has taken a majority equity investment from three of the largest newspaper and media firms in the US -- Knight Ridder, Tribune and Gannett. We see a huge opportunity with this deal, and wanted to share why we did it, what it means and what we're doing going forward.

First, the basics: We're taking a majority equity investment, and will remain both editorially and structurally independent from our new partners. I'll continue being the CEO and will report to the board of directors, and our team will continue to develop Topix.net.

5:31 pm on Mar 23, 2005 (gmt 0)

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That's great news, I've always thought that Topix is a great resource with a superb back-end.
3:29 pm on Mar 25, 2005 (gmt 0)

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What's interesting to me is that they bought a company whose primary revenue source is AdSense.