8-K

SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OF 15(d) OF THE
SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported)	April 15, 2004
Knight-Ridder, Inc.
(Exact name of registrant as specified in its charter)

Florida	1-7553	38-0723657
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

50 W. San Fernando Street, Suite 1500, San Jose, California	95113
(Address of principal executive offices)	(Zip Code)

Registrant’s telephone number, including area code (408) 938-7700

Inapplicable

(Former name or former address if changed since last report)

Item 7. Financial Statements and Exhibits

(c) Exhibits.

99.1 Knight-Ridder, Inc. Earnings Press Release dated April 15, 2004

99.2 Knight-Ridder, Inc. March Statistical Report Press Release dated April 15, 2004

Item 12. Results of Operations and Financial Condition

     On April 15, 2004, Knight-Ridder, Inc. issued a press release announcing the Company’s earnings for the quarter ended March 28, 2004. The company also issued a press release on April 15, 2004 announcing the Company’s statistical report for the month ended March 28, 2004. Copies of these press releases are furnished as exhibits to this Form 8-K.

SIGNATURES

     Pursuant to the requirements of the Securities Exchange Act of 1934, the Registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

KNIGHT-RIDDER, INC.
By:	/s/ Carlos Abaunza
	Carlos Abaunza
	Vice President and Controller

Dated: April 15, 2004

EXHIBIT INDEX

Exhibit Number	Name
99.1	Knight-Ridder, Inc. Earnings Press Release dated April 15, 2004
99.2	Knight-Ridder, Inc. March Statistical Report Press Release dated April 15, 2004

EX-99.1

NEWS RELEASE Exhibit 99.1

KNIGHT RIDDER
50 WEST SAN FERNANDO ST.
SAN JOSE, CA 95113

Knight Ridder Reports First Quarter Earnings

     SAN JOSE, April 15, 2004 – Knight Ridder (NYSE:KRI) earned $.70 per diluted share for the first quarter, up 12.9% from $.62 per diluted share in the first quarter of 2003.

     The following numbers are all in comparison to the first quarter of 2003: Total operating revenue of $712.3 million was up 1.9%. Total advertising revenue of $547.9 million was up 2.1%. Operating profit of $111.1 million was up 0.5%. Net income of $55.9 million was up 10.4%.

     Commenting on the results, Tony Ridder, chairman and CEO, said, “As anticipated, we are beginning to see the benefit of our leverage to a rebound. The quarter concluded strongly, with March advertising revenue up 5.6% from March of 2003. All three categories showed solid improvement for the month, with retail up 2.2%, national up 16.7% and classified up 5.8%. Help wanted, now positive for the second month in a row, was up 7.7% in March.

     “Lower-than-anticipated taxes also gave us a boost of two cents.

     “Other good news included an outstanding performance in Philadelphia in March – with ad revenue up 8.9%. With several other large markets doing nearly as well, it is tempting to say that the ‘recovery’ has taken hold. Still, I would caution that San Jose and Akron remained in negative territory throughout the quarter, and finished it down 7.2% and down 4.2%, respectively, in total ad revenue.

     “Cost control remains tight, with total costs for the quarter rising 2.1%. Although wages and employee benefits were up 5.1%, salaries rose less than 1%; the real spike – as anticipated – was in pension expense: up 43.5%. Newsprint, ink and supplements were up 4.2%, including a 6.4% rise in the average newsprint price per ton on an 0.8% decline in consumption.

     “Knight Ridder Digital revenue for the quarter was up 42.6%, to $24.5 million. Operating profit for the quarter rose to $6.7 million versus $2.0 million in the same period a year ago. All segments of the business were strong.

     “CareerBuilder, capitalizing on its traffic agreements with AOL and MSN, captured 15.7 million unique visitors in March. For the quarter, it led the industry in the delivery of job seekers to companies recruiting online.

     “In closing, let me note the Pulitzer Prize for commentary, awarded last week to Leonard Pitts of The Miami Herald. In the 13 years he has been writing a column, Leonard has evolved into a distinguished voice for all people on all kinds of issues. His column following the 9/11 terrorist attacks was the most quoted in the nation. Leonard’s recognition now marks the 84th Pulitzer won by a Knight Ridder newspaper, and we take great pride in the accomplishment.”

Comment on Operations

     Gary Effren, Knight Ridder senior vice president and chief financial officer, said, “For the quarter, total ad revenue was up 2.1%. Retail was up 0.3%; national was up 5.9%; classified was up 2.8%. These numbers reflect sequential improvement: January was flat, February was up 1.0% and March was up 5.6%.

     “Best performances in total ad revenue for the quarter were: St. Paul, up 7.7%, Columbia, up 6.8%, Lexington, up 5.9%, and Miami and Kansas City, both up 4.0%. Philadelphia, Fort Worth and Charlotte were up 1.7%, 3.2% and 3.3%, respectively.

     “Taking March alone, seven of the large markets showed impressive ad revenue gains: Charlotte, up 5.8%, Contra Costa, up 7.0%, Fort Worth, up 8.0%, Kansas City, up 7.5%, Miami, up 8.2%, Philadelphia, up 8.9% and St. Paul, up 14.3%.

     “Retail was soft in the first two months, down 0.8% and 0.5%, respectively, but it rebounded to plus 2.2% in March. For the quarter, retail was positive in seven of the eight largest markets, ranging from an increase of 1.3% in Fort Worth to 3.6% in Kansas City. San Jose retail was down 13.1%. Sporting goods and home furnishings were generally strong. Department stores and general merchandise were generally soft.

     “National advertising went from a negative 0.4% in January to an increase of 3.4% in February to a whopping 16.7% increase in March. For the quarter, national was positive in seven of the eight largest markets, ranging from an increase of 3.5% in Kansas City to 17.8% in St. Paul. San Jose national was down 7.6%. National automotive and airlines were strong; entertainment and computers were soft.

     “In March, all of the large markets except San Jose showed dramatic increases in national: Charlotte, up 26.2%, Contra Costa, up 17.7%, Fort Worth, up 10.7%, Kansas City, up 16.7%, Miami, up 16.3%, Philadelphia, up 26.9%, and St. Paul, up 22.3%.

     “Classified was positive in each of the three months, up 0.9% in January, 1.9% in February and 5.8% in March.

     “Help wanted was up 2.0% for the quarter. While still negative in January, it was up 5.4% in February, then up 7.7% in March. For the quarter, 21 of 28 markets were positive, including all of the eight largest markets except Philadelphia – which was down 13.2%.

     “Auto for the quarter was up 0.9%. January and March were both up 2.2%; February was down 1.8%. Performance by market was mixed: In the quarter, Charlotte, Kansas City and San Jose were up 7.5%, 8.1% and 7.4%, respectively, but Miami was down 9.9%. Charlotte, Fort Worth, Kansas City and Philadelphia all had a notably good March in auto: up 9.7%, 8.8%, 13.2% and 6.4%, respectively.

     “Real estate was consistently strong: up 5.4% for the quarter – up 3.6% in January, 6.4% in February and 6.4% in March. All large markets performed well in the quarter. Fort Worth, Miami and St. Paul performed especially well – up 11.2%, 17.3% and 26.8%, respectively.

     “Other revenue was up 22.0%, driven by gains in Detroit as well as increases in alternate distribution revenue and commercial printing.

     “Circulation revenue for the quarter was down 1.9%, divided equally between volume and rate. Circulation copies were down 0.9% daily and 0.3% Sunday.

     “Other operating expense, and depreciation and amortization, were down 1.5% and 12.1% due in part to our efforts to aggressively reduce costs and lower levels of ‘normal’ capital spending in recent years, respectively.

     “Our losses from equity investments dropped to $8.1 million from $10.4 million, a 22.6% improvement from the first quarter of 2003. Strengthening newsprint prices accounted for the swing.

     “Interest expense was down 25.8% due to a lower average rate and the interest capitalization related to our new facility in Kansas City.

     “Corporate expense was up $3.0 million due to certain costs associated with the increased pension expense noted in our labor line and to increases in property insurance.

     “During the quarter, we repurchased 1.0 million shares of Knight Ridder stock, leaving remaining authorization of 2.2 million at quarter’s end. Shares outstanding at the end of the quarter were 78.9 million.

     “Total debt at quarter’s end was $1.5 billion, up $24.0 million since year end. The effective tax rate for the quarter was 36.2% versus 37.2% in the same quarter last year, due to certain favorable state tax settlements.

     Certain statements contained in this report are forward-looking. They are based on management's current knowledge of factors affecting Knight Ridder's business. Actual results could differ materially from those currently anticipated, depending upon – but not limited to – the effects of interest rates, of national and local economies on revenue, of the evolution of the Internet, of unforeseen changes in the price of newsprint and of negotiations and relations with labor unions.

     Knight Ridder (NYSE: KRI) is the nation’s second-largest newspaper publisher, with products in print and online. The company publishes 31 daily newspapers in 28 U.S. markets, with a readership of 8.7 million daily and 12.6 million Sunday. Knight Ridder also has investments in a variety of Internet and technology companies and two newsprint companies. The company’s Internet operation, Knight Ridder Digital, develops and manages the company’s online properties. It is the founder and operator of Real Cities (www.RealCities.com), the largest national network of city and regional Web sites in more than 100 U.S. markets. Knight Ridder and Knight Ridder Digital are headquartered in San Jose, Calif.

     #       #        #

     For more information, call Vice President/Corporate Relations Polk Laffoon at 408-938-7838 (e-mail: plaffoon@knightridder.com), or Director/Corporate Communications Lee Ann Schlatter at 408-938-7839 (e-mail: lschlatter@knightridder.com), or visit Knight Ridder’s Web site at www.knightridder.com.

KNIGHT RIDDER
CONSOLIDATED STATEMENT OF INCOME
(Unaudited in thousands, except per share data)

	Quarter Ended
	March 28 2004			March 30 2003
OPERATING REVENUE
Advertising
Retail	$	251,283		$	250,575
National		82,024			77,417
Classified		214,571			208,754
Total		547,878			536,746
Circulation		139,219			141,927
Other		25,174			20,640
Total Operating Revenue		712,271			699,313
OPERATING COSTS
Labor and employee benefits		305,960			291,096
Newsprint, ink and supplements		94,888			91,100
Other operating costs		173,988			176,555
Depreciation and amortization		26,376			30,011
Total Operating Costs		601,212			588,762
OPERATING INCOME		111,059			110,551
OTHER EXPENSE
Interest expense, net		(13,169	)		(17,759	)
Equity in losses of unconsolidated
companies and joint ventures		(8,067	)		(10,424	)
Minority interests in consolidated subsidiaries		(1,912	)		(2,695	)
Other, net		(239	)		1,015
Total Other Expense		(23,387	)		(29,863	)
Income before income taxes		87,672			80,688
Income taxes		31,735			30,016
Net Income	$	55,937		$	50,672
NET INCOME PER SHARE
Basic	$	0.71		$	0.62
Diluted	$	0.70		$	0.62
DIVIDENDS DECLARED PER COMMON SHARE	$	0.32		$	0.27
AVERAGE SHARES OUTSTANDING
Basic		79,005			81,177
Diluted		80,338			82,075

Knight Ridder
Business Segment Information
(in thousands of dollars)

	Quarter Ended
	March 28, 2004			March 30, 2003
Operating revenue
Newspapers	$	687,817		$	682,160
Online		24,454			17,153
	$	712,271		$	699,313
Operating income (loss)
Newspapers	$	116,359		$	117,583
Online		6,707			2,042
Corporate		(12,007	)		(9,074	)
	$	111,059		$	110,551
Depreciation and amortization
Newspapers	$	24,159		$	27,545
Online		987			1,072
Corporate		1,230			1,394
	$	26,376		$	30,011

EX-99.2

NEWS RELEASE Exhibit 99.2

KNIGHT RIDDER
50 WEST SAN FERNANDO ST.
SAN JOSE, CA 95113

Knight Ridder Releases March Statistical Report

SAN JOSE, April 15, 2004 – (KRI:NYSE) – Total advertising revenue was up 5.6% for March and up 2.1% year to date. For the month, retail was up 2.2%, national was up 16.7% and classified was up 5.8%. For the year to date, retail was up 0.3%, national was up 6.0% and classified was up 2.8%.

     Within classified, recruitment was up 7.7% for the month. All but three newspapers had increases in help wanted, including 15 with double-digit gains. Real estate was up 6.4%. Auto was up 2.2%.

     Total operating revenue was up 5.0% for the month and 1.9% for the year to date.

     For the month, total ad revenue was up 14.3% in St. Paul, 8.9% in Philadelphia, 8.2% in Miami, 8.0% in Fort Worth, 7.5% in Kansas City, 7.0% in Contra Costa, 6.7% in Columbia and 5.8% in Charlotte. San Jose was soft.

     Retail for the month was up 10.0% in Philadelphia, 8.5% in St. Paul, 7.0% in Contra Costa, 5.5% in Miami, 3.9% in Kansas City, 2.8% in Fort Worth and 2.7% in Charlotte. San Jose was soft.

     National advertising was up 26.9% in Philadelphia, 26.2% in Charlotte, 22.3% in St. Paul, 17.7% in Contra Costa, 16.7% in Kansas City, 16.3% in Miami, 10.7% in Fort Worth. San Jose was up slightly. Increases in travel, including airlines and cruise lines, were up in all of the major markets. Food/packaged goods and automotive also increased in many markets. Telecommunications and technology were mixed.

     Classified was up 19.6% in St. Paul, 14.6% in Fort Worth, 12.4% in Lexington, 9.1% in Kansas City, 7.9% in Columbia, 7.2% in Miami, 3.9% in Contra Costa and 3.8% in Charlotte. Philadelphia and San Jose were soft.

     Circulation revenue was down 2.3% for March, mostly from discounting. Other revenue was up 41.4% for the month, primarily reflecting strength in earnings from Detroit and increases in alternate distribution revenue and commercial printing.

     Knight Ridder (NYSE: KRI) is the nation’s second-largest newspaper publisher, with products in print and online. The company publishes 31 daily newspapers in 28 U.S. markets, with a readership of 8.7 million daily and 12.6 million Sunday. Knight Ridder also has investments in a variety of Internet and technology companies and two newsprint companies. The company’s Internet operation, Knight Ridder Digital, develops and manages the company’s online properties. It is the founder and operator of Real Cities (www.RealCities.com), the largest national network of city and regional Web sites in more than 100 U.S. markets. Knight Ridder and Knight Ridder Digital are headquartered in San Jose, Calif.

#      #      #

     For more information, call Vice President/Corporate Relations Polk Laffoon at 408-938-7838 (e-mail: plaffoon@knightridder.com), or Director/Corporate Communications Lee Ann Schlatter at 408-938-7839 (e-mail: lschlatter@knightridder.com), or visit Knight Ridder’s Web site at www.knightridder.com.

STATISTICAL REPORT
For the period of 03/01/04 - 03/28/04

	March							Year-to-date
	2004		2003		Percent Change			2004		2003		Percent Change
REVENUE ($000) — See Notes 1 & 2
Advertising
Retail		83,208		81,409		2.2	%		251,283		250,575		0.3	%
National		26,995		23,129		16.7	%		82,024		77,417		6.0	%
Classified		70,090		66,241		5.8	%		214,571		208,754		2.8	%
Total		180,293		170,779		5.6	%		547,878		536,746		2.1	%
Circulation		43,288		44,292		-2.3	%		139,219		141,927		-1.9	%
Other Revenue		8,877		6,278		41.4	%		25,174		20,640		22.0	%
Total Operating Revenue		232,458		221,349		5.0	%		712,271		699,313		1.9	%
AVERAGE CIRCULATION
(000's of copies including Detroit) - Notes 1 & 2
Morning		3,720		3,715		0.1	%		3,668		3,685		-0.5	%
Evening		178		195		-8.8	%		176		195		-9.3	%
Daily		3,898		3,910		-0.3	%		3,844		3,880		-0.9	%
Sunday		5,291		5,244		0.9	%		5,198		5,211		-0.3	%
ADVERTISING LINAGE
(000's of six-column inches) - Notes 1 & 2
Full-Run ROP
Retail		1,120.8		1,138.5		-1.6	%		3,371.6		3,500.2		-3.7	%
National		209.7		195.1		7.5	%		641.5		615.2		4.3	%
Classified		1,415.0		1,403.6		0.8	%		4,463.6		4,382.7		1.8	%
Total		2,745.5		2,737.2		0.3	%		8,476.7		8,498.1		-0.3	%
Factored Part-Run ROP		202.2		180.6		12.0	%		591.6		559.9		5.7	%
TOTAL PREPRINTS INSERTED		591,092		570,204		3.7	%		1,800,219		1,785,653		0.8	%

Statistical Report
For the period of 03/01/04 - 03/28/04

	March							Year–to–Date
	2004		2003		Percent Change			2004		2003		Percent Change
FULL–RUN ROP ADVERTISING LINAGE DATA
By Markets (000's of six-column inches) – Notes 1 & 2
Akron Beacon Journal		119.4		120.6		-1.0	%		352.9		372.5		-5.3	%
Charlotte Observer		125.0		123.2		1.5	%		377.9		384.7		-1.8	%
Columbia State		91.9		91.8		0.1	%		286.7		287.3		-0.2	%
Contra Costa (Note 3)		123.9		116.6		6.3	%		384.3		357.8		7.4	%
Fort Wayne News-Sentinel,
Journal Gazette		99.8		102.9		-3.0	%		316.4		332.4		-4.8	%
Fort Worth Star Telegram		171.3		173.0		-1.0	%		527.9		548.1		-3.7	%
Kansas City Star		149.5		143.5		4.2	%		462.5		437.9		5.5	%
Lexington Herald-Leader		89.4		89.7		-0.3	%		278.6		270.2		3.1	%
Miami Herald & el Nuevo
Herald		163.3		163.4		-0.1	%		510.2		514.4		-0.8	%
Philadelphia Newspapers		175.8		179.4		-2.0	%		555.4		570.4		-2.6	%
St. Paul Pioneer Press		99.3		92.1		7.8	%		293.0		280.4		4.5	%
San Jose Mercury News		181.4		180.6		0.4	%		575.7		574.3		0.2	%
Wichita Eagle		66.0		66.5		-0.8	%		204.7		206.6		-0.9	%
All Other Dailies		1,089.5		1,093.9		-0.4	%		3,350.5		3,361.1		-0.3	%
Total - Full-Run ROP		2,745.5		2,737.2		0.3	%		8,476.7		8,498.1		-0.3	%

Note 1 - The Detroit News and the Detroit Free Press operate under a joint operating agreement as Detroit Newspapers (DN). Revenue and linage are excluded for 2004 and 2003.

Note 2 - Measured by individual Knight Ridder newspapers. Where necessary, certain previously reported linage has been restated to be consistent with measurement guidelines currently in use.

Note 3 - Full-run ROP advertising linage represents the sum of full-run ROP linage for each of Contra Costa's three newspapers.

#      #      #      #      #      #      #      #      #      #      #

For further information, call Polk Laffoon IV at 408-938-7838

2003 Knight Ridder Consolidated *
Actual (000s)

	Jan 03		Feb 03		Mar 03		1Q 2003
Advertising
Retail	$	87,417	$	81,749	$	81,409	$	250,575
General		29,435		24,853		23,129		77,417
Classified		76,947		65,566		66,241		208,754
Total		193,799		172,168		170,779		536,746
Circulation		53,805		43,830		44,292		141,927
Other Revenue		7,330		7,032		6,278		20,640
Total Operating Revenue	$	254,934	$	223,030	$	221,349	$	699,313

	Apr 03		May 03		Jun 03		2Q 2003
Advertising
Retail	$	109,543	$	84,664	$	81,449	$	275,656
General		31,827		27,014		30,320		89,161
Classified		81,291		66,153		66,263		213,707
Total		222,661		177,831		178,032		578,524
Circulation		54,002		43,225		42,642		139,869
Other Revenue		9,119		7,811		8,630		25,560
Total Operating Revenue	$	285,782	$	228,867	$	229,304	$	743,953

	Jul 03		Aug 03		Sep 03		3Q 2003
Advertising
Retail	$	91,543	$	80,786	$	82,600	$	254,929
General		30,019		22,786		25,399		78,204
Classified		79,160		64,288		68,796		212,244
Total		200,722		167,860		176,795		545,377
Circulation		51,898		42,392		43,338		137,628
Other Revenue		8,196		7,085		8,928		24,209
Total Operating Revenue	$	260,816	$	217,337	$	229,061	$	707,214

	Oct 03		Nov 03		Dec 03		4Q 2003		Year 2003
Advertising
Retail	$	110,602	$	110,261	$	109,480	$	330,343		1,111,503
General		34,265		28,906		28,726		91,897		336,679
Classified		83,106		61,472		52,857		197,435		832,140
Total		227,973		200,639		191,063		619,675		2,280,322
Circulation		53,492		43,628		42,689		139,809		559,234
Other Revenue		11,526		10,058		14,441		36,025		106,435
Total Operating Revenue	$	292,991	$	254,325	$	248,193	$	795,509		2,945,991

* Beginning in February 2004, Knight Ridder changed the way it reports carrier compensation at some newspapers. It now records circulation revenue on a retail, rather than a net, basis. This table provides revised circulation revenue numbers for all of 2003.