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While these purchases proved successful, the 1978 acquisition of McCoy Broadcasting, a broadcaster with a television station in Honolulu and two stateside radio stations, pushed Register's debt over the $40 million mark.
In desperation, John Jr. merged the two Minneapolis papers in 1982 and renamed the company Cowles Media.
Strib publisher Roger Parkinson, who had been promoted to that position in 1983, oversaw the mid-decade construction of the paper's Heritage Center printing plant at a cost of $110 million.
The threat was diffused early in 1985, when Gannett Co. brought a $200 million offer for the Des Moines Register, the Tennessee newspaper, and two Iowa weeklies.
Controlled for five generations by the McClatchy and Maloney families, the company had gone public in 1988 but continued to be majority owned by the clans.
After divesting Montana and South Dakota newspapers, the parent company formed Cowles Business Media Inc. in 1990.
A few of the negative influences on the newspaper industry included declining readership, especially among the young, correspondingly decreasing circulation rates, and the escalating price of newsprint, which rose by nearly one-third in 1995 alone.
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