Knight died in 1933 and is buried in Akron, Ohio. His son,
John S. Knight inherited the
Beacon Journal in 1933; with his brother
James L. Knight, the two expanded their media holdings significantly. To honor the memory of their father, the brothers established the Knight Memorial Education Fund in 1940 to provide financial aid to college students from the Akron area. The fund existed until December 1950 when its assets of $9,047 were transferred to the newly created Knight Foundation.
John S. and James L. Knight Foundation, "dedicated to promotion of journalistic causes". ==Family==