Detroit shuffle causes some key changes in JOA.

This article presents information on the changes in the joint operating agreement of Gannett Co., Knight Ridder Inc. and MediaNews Group Inc. The publishing companies rearranged the ownership of six dailies in four U.S. states in summer 2005. As a result, MediaNews will hold just a 5% interest in the renamed Detroit Newspaper Partnership LP. MediaNews will not be sharing any profits, either, until at least 2009. Instead, it will be given annual payments that start at $5 million in 2006, and gradually decline to a final installment of $1.9 million in 2012.