Wednesday, December 31, 2008

2008 -- The Year Newspaper Stocks Collapsed

This was a bad year for stocks, as anyone with a 401 (k) well knows. The Dow is down 36%, the S&P 500 by more than 40%. Yet publicly traded newspaper publishers can only envy that decline.

Yet publicly traded newspaper publishers can only envy that decline.

If the newspaper sector had been able to hold its declines at those levels, GateHouse Media (OTC: GHSE.PK) would still be listed on the New York Stock Exchange (NYSE) instead of looking for a market on the Over-The-Counter Pink Sheets.

If they had held their declines to 40% or less, shares of The McClatchy Co. (NYSE: MNI), Lee Enterprises (NYSE: LEE), and Media General (NYSE: MEG) would all be in double digits -- instead of in danger themselves of being delisted as their stock trades below or just above $1 a share.


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