Thursday, April 9, 2009

Gannett, Belo, Scripps, Journal shares up, Lee down

Shares of USA Today publisher Gannett Co. Inc. surged 39 percent Thursday after a regulatory filing showed fund manager Ariel Investments LLC more than doubled its stake in the newspaper company in the last quarter.

Shares rose $1.06 to close at $3.75, amid broad gains in the stock market and a rally in newspaper company shares. Gannett shares are still sharply down from a 52-week high of $31.14, reached in May of last year.

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