KRF Prospectus Is Out (Warts and All); Bids Already In

VENDOR STRATEGIES

As IMD was going to press late last week, the deadline for bids for Knight-Ridder Financial had arrived. Meanwhile, sources who have seen the sale prospectus for the vendor report that KRF's profits have been on a downward slide for some time, and last year only reached $3.3 million on revenues of $193.4 million. Plenty of other information emerged about the current state of the unit, according to those who have seen the offering document.

Sources who have seen the prospectus say that while K