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)	July 22, 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 July 22, 2004

99.2 Knight-Ridder, Inc. June Statistical Report Press Release dated July 22, 2004

Item 12. Results of Operations and Financial Condition

     On July 22, 2004, Knight-Ridder, Inc. issued a press release announcing the Company’s earnings for the quarter ended June 27, 2004. The Company also issued a press release on July 22, 2004 announcing the Company’s statistical report for the month ended June 27, 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: July 22, 2004

EXHIBIT INDEX

Exhibit
Number	Name
99.1	Knight-Ridder, Inc. Earnings Press Release dated July 22, 2004
99.2	Knight-Ridder, Inc. June Statistical Report Press Release dated July 22, 2004

EX-99.1

NEWS RELEASE Exhibit 99.1

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

Knight Ridder Reports Second Quarter Earnings

     SAN JOSE, July 22, 2004 – Knight Ridder (NYSE: KRI) earned $1.08 per diluted share for the second quarter, up 13.7% from $.95 in the second quarter of 2003.

     Included in the quarter’s earnings per share are $.06 from the resolution of prior-year tax issues, including interest, and $.04 from favorable adjustments in Detroit, primarily post-retirement benefits.

     Total advertising revenue for the quarter was $591.7 million, up 2.3% from $578.5 million in the same quarter of 2003. Total operating revenue was $760.2 million, up 2.2% from $744.0 million in the same quarter last year. Total operating profit for the quarter was $155.0 million, up 2.8% from $150.8 million in the second quarter of 2003. Net income of $86.3 million was up 11.7% from $77.2 million in the same quarter the previous year.

     Commenting on the results, Knight Ridder Chairman and CEO Tony Ridder said, “Despite respectable bottom-line results, the operating components of those results were not what we had hoped for. Sluggish department store advertising and negative growth in the national category offset continued strength in real estate and the ongoing resurgence in help wanted.

     “June, with ad revenue growth of 3.2%, was the strongest month in the quarter. With respect to retail and classified, June showed some improvement over April and May. However, the year is unfolding with more consistency than meets the eye. Packaging March and April as one, because of the early Easter, suggests that we’ve been up about 3% for each of the past four months compared to the prior year.

     “In the quarter, our sixteen smaller markets showed a combined ad revenue increase of 6.0%, with half of them rising between 7.3% and 12.1%. Real estate for the company was up 6.5% in the quarter, and help wanted was up 15.9%.

     “Also in the quarter, Knight Ridder Digital revenue was up 50.7%, and its operating income rose from $3.4 million to $9.7 million.

     “The newspaper revenue initiatives that we have in place, with a target of $30 million this year, continue to perform ahead of plan, as reported at last month’s Mid-Year Media Review (the presentation remains available on our Web site, in the Investing section), and our cost initiatives are doing likewise. Costs for the quarter were up just 2%, with FTEs down 1.5%.

     “Looking ahead, we are cautious. We expect ad revenue growth to track in the second half about as it has in the most recent four months. Our cost containment efforts will continue to be rigorous.”

Comment on Operations

     Knight Ridder Chief Financial Officer Gary Effren said, “ The second quarter, skewed by the negative impact of Easter on April, concluded with retail up 0.2%. National – fighting 20-plus-percent comparisons with the same quarter last year – was down 2.6%. Classified was up 7.2%, with auto down 1.2%.

     “In the quarter, all but two of our markets showed ad revenue increases: St. Paul was up 5.8%, Fort Worth was up 3.5%, Kansas City was up 3.2% and Charlotte was up 2.3%. Miami and San Jose were up slightly. Philadelphia was down 1.6% in the quarter.

     “Retail was up for the quarter between 1.7% and 2.1% in Charlotte, Contra Costa, Fort Worth and Kansas City. It was down 6.2% in Miami because of store closings by Kmart and Lord & Taylor as well as consolidation between Macy’s and Burdines. San Jose retail was down 4.1%, due primarily to Kmart’s reduced spending.

     (For the record, Kmart has closed all its stores in Fort Worth and San Jose, some stores in Miami and Charlotte, and reduced spending wherever it still has a presence. The closings in Fort Worth occurred mostly in 2003 and so were cycled by Q2 ’04. The changes in the other markets had important negative impact on Q2 2004.)

     “Within retail, softness in the department store category (down 11%), reductions from Kmart and declines from Eckerd’s Drugs due to its impending sale, were offset by growth in preprints, local retail advertising and growth in some key categories.

     “In the largest markets, national was mostly soft: Contra Costa down 18.6%, Philadelphia down 7.9%, San Jose down 5.0%, Kansas City down 6.8%, Fort Worth down 2.1%, Charlotte down 0.7%. Miami was up 0.4%. Three other markets showed impressive gains: Columbia was up 18.6%, Akron was up 8.7%, and St. Paul was up 6.4%. National auto, pharmaceutical and financial were strong. Telecom, computers, travel and entertainment were not.

     “In classified, all but one of our markets were up, mostly in the high single digits. Employment increases were dramatic: Contra Costa up 25.1%, San Jose up 24.7%, Miami up 22.0%, St. Paul up 20.1%, Fort Worth, up 17.2%, Charlotte, up 15.8%, Kansas City up 15.3%. Philadelphia employment continues to lag, down 3.4% for the quarter – a major contributor to Philadelphia’s underperformance.

     “Real estate was up in most of our large markets, with San Jose and Charlotte the exceptions. Classified auto was up 12.4% in Contra Costa, 5.1% in Kansas City and 3.9% in San Jose. Otherwise, it was mostly soft.

     “Circulation revenue for the quarter was down 2.5%, primarily due to discounting. For the quarter, circulation copies were down daily 0.3% and Sunday 0.5%. For the year to date, daily was down 0.7% and Sunday was down 0.4%.

     “Other revenue was up $6.5 million, or 25.6%, $4.9 million of which was the favorable adjustments in Detroit.

     “Cost control benefited from the ongoing contributions of our Operations Task Force, convened more than a year ago to look continuously for ways to save money. Labor was up 1.6%, benefits were up 5.4%. Newsprint, ink and supplements were up 4.3%, including a 6.9% increase in the average newsprint price per ton, on a consumption decrease of 0.6%.

     “Below the operating line, we have three salient favorable variances: (1) Net interest expense was down $4.8 million, or 28.2%, due to lower interest rates, (2) the capitalization of interest related to our Kansas City plant, and (3) the interest portion related to the previously mentioned resolution of prior-year tax issues ($2 million of the $4.8 million total). Other net expense was down 71.6%, primarily due to an investment write-down in the second quarter of 2003.

     “On the other hand, losses from equity investments were slightly higher, as improved results from our newsprint mill investments were not enough to offset declines from the Seattle Times and Classified Ventures.

     “During the quarter, we repurchased approximately 1.0 million shares of Knight Ridder stock, leaving remaining authorization to repurchase 1.2 million shares at quarter’s end. Shares outstanding at the end of the quarter were 78.2 million.

     “Total debt at quarter’s end was $1.485 billion, up $31.7 million from the start of the year. Cash and cash equivalents at the end of the quarter were $30.0 million. The effective tax rate for the quarter was 35.0%. For the year as a whole, we are currently projecting a tax rate of about 37%.”

     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						Two Quarters Ended
	June 27 2004			June 29 2003			June 27 2004			June 29 2003
OPERATING REVENUE
Advertising
Retail	$	267,925		$	267,298		$	509,769		$	508,664
National		97,439			100,010			191,484			189,415
Classified		226,349			211,216			438,338			417,191
Total		591,713			578,524			1,139,591			1,115,270
Circulation		136,406			139,869			275,615			281,796
Other		32,097			25,559			57,281			46,199
Total Operating Revenue		760,216			743,952			1,472,487			1,443,265
OPERATING COSTS
Labor and employee benefits		301,071			294,053			607,030			585,149
Newsprint, ink and supplements		98,911			94,798			193,799			185,898
Other operating costs		179,085			174,488			353,072			351,043
Depreciation and amortization		26,140			29,819			52,517			59,830
Total Operating Costs		605,207			593,158			1,206,418			1,181,920
OPERATING INCOME		155,009			150,794			266,069			261,345
OTHER EXPENSE
Interest expense, net of interest income		(13,244	)		(17,144	)		(27,387	)		(34,963	)
Interest expense capitalized		1,142			284			2,116			344
Interest expense, net		(12,102	)		(16,860	)		(25,271	)		(34,619	)
Equity in losses of unconsolidated
companies and joint ventures		(7,006	)		(6,366	)		(15,073	)		(16,790	)
Minority interests in consolidated subsidiaries		(2,572	)		(2,772	)		(4,484	)		(5,467	)
Other, net		(528	)		(1,862	)		(767	)		(847	)
Total Other Expense		(22,208	)		(27,860	)		(45,595	)		(57,723	)
Income before income taxes		132,801			122,934			220,474			203,622
Income taxes		46,539			45,716			78,274			75,732
Net Income	$	86,262		$	77,218		$	142,200		$	127,890
NET INCOME PER SHARE
Basic	$	1.10		$	0.96		$	1.81		$	1.58
Diluted	$	1.08		$	0.95		$	1.78		$	1.56
DIVIDENDS DECLARED PER COMMON SHARE	$	0.32		$	0.27		$	0.64		$	0.54
AVERAGE SHARES OUTSTANDING
Basic		78,497			80,529			78,751			80,853
Diluted		79,789			81,484			80,064			81,780

Knight Ridder
Business Segment Information
(in thousands of dollars)

	Quarter Ended						Two Quarters Ended
	June 27, 2004			June 29, 2003			June 27, 2004			June 29, 2003
Operating revenue
Newspapers	$	731,207		$	724,701		$	1,419,024		$	1,406,860
Online		29,009		$	19,251			53,463			36,405
	$	760,216		$	743,952		$	1,472,487		$	1,443,265
Operating income (loss)
Newspapers	$	156,218		$	158,509		$	272,580		$	276,093
Online		9,717			3,399			16,423			5,441
Corporate		(10,926	)		(11,114	)		(22,934	)		(20,189	)
	$	155,009		$	150,794		$	266,069		$	261,345
Depreciation and amortization
Newspapers	$	24,155		$	27,399		$	48,313		$	54,944
Online		680			1,031			1,668			2,103
Corporate		1,305			1,389			2,536			2,783
	$	26,140		$	29,819		$	52,517		$	59,830

EX-99.2

NEWS RELEASE Exhibit 99.2

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

Knight Ridder Releases June Statistical Report

     SAN JOSE, July 22, 2004 – (KRI:NYSE) – Total advertising revenue was up 3.2% for June and up 2.2% year to date. For the month, retail was up 2.1%, national was down 8.5% and classified was up 10.6%. For the year to date, retail was up 0.2%, national was up 1.1% and classified was up 5.1%.

     Within classified, recruitment was up 16.0% for the month. Twenty-five of 27 newspapers had increases in help wanted, with 24 in double digits. San Jose was up 38.5%, Columbia was up 25.8%, Miami was up 23.1%, Akron was up 20.1%, Contra Costa was up 18.9%, Fort Worth was up 16.2%, Charlotte was up 15.0% and Kansas City was up 11.9%. Real estate was up 9.8% for the month, and auto was up 0.9%.

     Total operating revenue was up 1.7% for the month and 2.0% for the year to date.

     Please note: During the quarter, certain newspapers reclassified some specific categories of retail revenue to national revenue for all periods in 2004 and 2003. These reclassifications were done in order to have consistency in reporting, both internally and among our peer newspapers. In the tabular material attached to this report, we are adding a table of restated numbers going back to the beginning of 2003 for consistency of comparison.

     For the month, total ad revenue was up 9.3% in Columbia, 6.9% in San Jose, 6.2% Akron, 4.6% in Kansas City, 2.8% in Charlotte, 2.5% in Fort Worth and 2.1% in Contra Costa. Philadelphia and Miami were soft.

     Retail for the month was up 6.7% in St. Paul, 6.3% in Columbia, 4.3% in Akron, 2.8% in Kansas City, 1.7% in Contra Costa, 1.1% in Philadelphia and 1.0% in Fort Worth. Miami and San Jose were soft.

     National advertising was up 21.0% in Columbia, 17.6% in Akron, 5.1% in San Jose, 2.5% in Kansas City and 0.7% in Charlotte. Philadelphia, Miami, Saint Paul and Fort Worth were soft. Travel, national financial and pharmaceuticals were up for many of the markets. Telecom and technology were mixed, while automotive was soft in most of the large markets.

     Classified was up in all but one of the major markets: up 19.1% in San Jose, 11.4% in Fort Worth, 10.9% in Miami, 9.3% in Philadelphia, 9.3% in Contra Costa, 8.3% in Kansas City and 5.6% in Charlotte. St. Paul was soft.

     Circulation revenue was down 1.6% for June, mostly from discounting. Other revenue was down 12.7%, due to a decrease in earnings from Detroit.

     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 05/31/04 - 06/27/04

	June							Year-to-Date
	2004		2003		Percent Change			2004		2003		Percent Change
REVENUE ($000) — See Notes 1 & 2
Advertising
Retail		80,724		79,086		2.1	%		509,769		508,664		0.2	%
National		30,806		33,687		-8.6	%		191,484		189,415		1.1	%
Classified		72,173		65,259		10.6	%		438,338		417,191		5.1	%
Total		183,703		178,032		3.2	%		1,139,591		1,115,270		2.2	%
Circulation		41,962		42,642		-1.6	%		275,615		281,796		-2.2	%
Other Revenue		7,534		8,629		-12.7	%		57,281		46,199		24.0	%
Total Operating Revenue		233,199		229,303		1.7	%		1,472,487		1,443,265		2.0	%
AVERAGE CIRCULATION
(000's of copies including Detroit) - Notes 1 & 2
Morning		3,469		3,452		0.5	%		3,618		3,626		-0.2	%
Evening		173		185		-6.7	%		175		194		-10.1	%
Daily		3,642		3,637		0.1	%		3,792		3,820		-0.7	%
Sunday		5,035		5,030		0.1	%		5,144		5,163		-0.4	%
ADVERTISING LINAGE
(000's of six-column inches) - Notes 1 & 2
Full-Run ROP
Retail		1,072.2		1,082.8		-1.0	%		6,847.8		7,044.4		-2.8	%
National		257.8		285.3		-9.6	%		1,596.1		1,620.7		-1.5	%
Classified		1,511.6		1,471.0		2.8	%		9,238.2		9,056.9		2.0	%
Total		2,841.6		2,839.1		0.1	%		17,682.1		17,722.0		-0.2	%
Factored Part-Run ROP		204.1		190.1		7.4	%		1,240.5		1,173.2		5.7	%
TOTAL PREPRINTS INSERTED		594,980		562,039		5.9	%		3,752,260		3,726,260		0.7	%

Statistical Report
For the period of 05/31/04 - 06/27/04

	June							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		128.4		126.0		1.9	%		754.0		779.6		-3.3	%
Charlotte Observer		125.0		132.4		-5.6	%		788.6		822.8		-4.2	%
Columbia State		94.1		99.0		-4.9	%		585.6		607.1		-3.5	%
Contra Costa (Note 3)		126.7		130.9		-3.2	%		795.5		767.8		3.6	%
Fort Wayne News-Sentinel,
Journal Gazette		110.8		112.8		-1.8	%		675.3		687.4		-1.8	%
Fort Worth Star Telegram		183.5		186.5		-1.6	%		1,123.7		1,151.8		-2.4	%
Kansas City Star		160.6		158.8		1.1	%		989.5		960.9		2.9	%
Lexington Herald-Leader		90.3		97.3		-7.2	%		577.0		579.4		-0.4	%
Miami Herald & el Nuevo
Herald		147.1		158.5		-7.2	%		995.7		1,022.3		-2.6	%
Philadelphia Newspapers		182.3		183.5		-0.7	%		1,155.0		1,168.0		-1.1	%
St. Paul Pioneer Press		99.9		107.2		-6.8	%		626.9		633.5		-1.0	%
San Jose Mercury News		198.5		192.5		3.1	%		1,202.9		1,185.7		1.5	%
Wichita Eagle		75.9		69.7		8.9	%		437.4		439.8		-0.5	%
All Other Dailies		1,118.5		1,084.0		3.2	%		6,975.0		6,915.9		0.9	%
Total - Full-Run ROP		2,841.6		2,839.1		0.1	%		17,682.1		17,722.0		-0.2	%

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

Knight Ridder Consolidated
Actual (000s)

	Jan 03		Feb 03		Mar 03		1Q 2003
Advertising
Retail	$	83,329	$	79,061	$	78,976	$	241,366
National		34,447		28,612		26,346		89,405
Classified		76,023		64,495		65,457		205,975
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	$	106,063	$	82,149	$	79,086	$	267,298
National		36,066		30,257		33,687		100,010
Classified		80,532		65,425		65,259		211,216
Total		222,661		177,831		178,032		578,524
Circulation		54,002		43,225		42,642		139,869
Other Revenue		9,119		7,811		8,629		25,559
Total Operating Revenue	$	285,782	$	228,867	$	229,303	$	743,952

	Jul 03		Aug 03		Sep 03		3Q 2003
Advertising
Retail	$	88,225	$	78,450	$	80,066	$	246,741
National		34,068		25,793		28,607		88,468
Classified		78,429		63,617		68,122		210,168
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	$	107,190	$	106,696	$	105,600	$	319,486		1,074,891
National		38,576		33,111		33,425		105,112		382,995
Classified		82,207		60,832		52,038		195,077		822,436
Total		227,973		200,639		191,063		619,675		2,280,322
Circulation		53,492		43,628		42,690		139,810		559,234
Other Revenue		11,525		10,060		14,442		36,027		106,435
Total Operating Revenue	$	292,990	$	254,327	$	248,195	$	795,512		2,945,991

Knight Ridder Consolidated
Actual (000s)

	Jan 04		Feb 04		Mar 04		1Q 2004
Advertising
Retail	$	82,740	$	78,447	$	80,657	$	241,844
National		33,997		29,445		30,603		94,045
Classified		76,972		65,984		69,033		211,989
Total		193,709		173,876		180,293		547,878
Circulation		52,742		43,183		43,284		139,209
Other Revenue		8,086		8,217		8,881		25,184
Total Operating Revenue	$	254,537	$	225,276	$	232,458	$	712,271

	Apr 04		May 04		June 04		2Q 2004
Advertising
Retail	$	104,283	$	82,918	$	80,724	$	267,925
National		35,965		30,668		30,806		97,439
Classified		84,798		69,378		72,173		226,349
Total		225,046		182,964		183,703		591,713
Circulation		52,602		41,842		41,962		136,406
Other Revenue		10,907		13,656		7,534		32,097
Total Operating Revenue	$	288,555	$	238,462	$	233,199	$	760,216