Knight Foundation To Continue In Communities Commitment Unchanged By Knight Ridder Sale The sale of the Knight Ridder newspapers to the McClatchy Company will not affect the John S. and James L. Knight Foundation's charitable giving, the foundation announced. The brothers established both the foundation and the newspaper company that became Knight Ridder, but the organizations are separate legal entities and function independent of each other. The foundation remains committed to the brothers' intent to support journalism, civic advancement and free speech in the communities where they owned newspapers. "Jack and Jim Knight founded Knight Foundation to give back to the communities that gave them so much and to encourage the kind of journalism excellence that was the hallmark of their careers," said Alberto Ibarguen, president of the foundation. "That is the mission they gave us, and we intend to fulfill it. We will remain a national foundation that honors our local roots." The foundation owns 500,000 shares, or 0.7 percent, of the outstanding shares of Knight Ridder stock. The stock represents only 1.5 percent of the foundation's diversified $2 billion in assets. > More headlines

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