History
The paper was founded in 1886. It was purchased by Knight Newspapers in 1955. Knight merged with Ridder Publications to form Knight Ridder in 1974. The Observer eventually became the fourth-largest newspaper in the Knight Ridder chain (behind The Philadelphia Inquirer and Daily News, Detroit Free Press and Miami Herald).In 1959, The Observer purchased The Charlotte News, Charlotte's afternoon newspaper. All operations were merged except editorial content, which was fused in 1983. The Observer ended circulation of the afternoon News in 1985.
The paper has won four Pulitzer Prizes.
McClatchy purchased most of Knight Ridder's newspapers, including The Observer, in 2006. This made The Observer a sister publication of the state's second-largest paper, The News and Observer of Raleigh; and of The Herald of Rock Hill, the primary newspaper for the South Carolina side of the metro area. As of spring 2008, it is the fifth-largest newspaper in the McClatchy chain (behind The Kansas City Star, Miami Herald, Sacramento Bee and Fort Worth Star-Telegram). McClatchy's share value has been in decline since the purchase. The stock has lost over 95% of its value, far worse than many remaining newspaper companies.
Read more about this topic: The Charlotte Observer
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