McClatchy purchased most of Knight Ridder's newspapers, including "The Observer", in 2006. This made "The Observer" a sister publication of the state's 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.