While I wasn’t paying attention, Knight Ridder, “second-largest newspaper chain in America,” went through some twisty corporate maneuvering and got absorbed out of existence. On top of that one of its crown jewels, the San Jose Mercury News, is now owned by an entirely different company. The summary of events from the Mercury News article (I figure they should know): In November, Knight Ridder’s largest shareholder forces the company to put itself up for sale. The second and third largest shareholders join in, Knight Ridder caves and starts the courting process in January. In March, the McClatchy Company, savvy and profitable owner of 12 U.S. papers, reaches a purchase agreement that in the end totals $4.1 billion plus $2 billion of Knight Ridder debt. McClatchy immediately reveals plans to sell 12 Knight Ridder papers to pay down the debt. MediaNews takes 4 papers, including the Merc, for $1 billion (2 are officially owned by Hearst). McClatchy’s sell-off is a success and still leaves them the second-largest newspaper company in the U.S. The MediaNews deal closed on Wednesday and the Merc can finally settle in with a new owner.