MEDIA

GFI to Buy Knight-Ridder Financial News Unit: Knight-Ridder Inc. said it agreed to sell its financial news service for $275 million to the unit of the Welsh, Carson, Anderson & Stowe investment group that provides financial data to institutional clients. Miami-based Knight-Ridder, publisher of the Long Beach Press-Telegram, Miami Herald, Philadelphia Inquirer, Detroit Free Press and 27 other U.S. newspapers, put its Knight-Ridder Financial service up for sale last winter. Welsh, Carson was founded by former executives of Citicorp and is a major investor in closely held St. Louis-based Global Financial Information Corp., whose products include Bridge Information Systems and Market Vision, which delivers equity and bond information to institutional clients.