Maybe it's investor optimism now that billionaire Chicago real estate developer Sam Zell (left) has finally closed on his deal to take Tribune Co. private after months of speculation that the buyout was in trouble. Or maybe it's the start of a Santa Claus rally in newspaper stocks. Whatever the driver, Gannett shares were up as much as 1.5% in early trading today -- continuing a trend I noted yesterday. Today's rise nudged the company's market value above $9 billion again, Google Finance says. Of course, if it's the Zell deal sending GCI shares higher, that would suggest investors now expect Gannett to be next. But who's got enough money to take on GCI?
Friday, December 21, 2007
Gannett stock up anew on continued strength
Maybe it's investor optimism now that billionaire Chicago real estate developer Sam Zell (left) has finally closed on his deal to take Tribune Co. private after months of speculation that the buyout was in trouble. Or maybe it's the start of a Santa Claus rally in newspaper stocks. Whatever the driver, Gannett shares were up as much as 1.5% in early trading today -- continuing a trend I noted yesterday. Today's rise nudged the company's market value above $9 billion again, Google Finance says. Of course, if it's the Zell deal sending GCI shares higher, that would suggest investors now expect Gannett to be next. But who's got enough money to take on GCI?
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Jim says: "Proceed with caution; this is a free-for-all comment zone. I try to correct or clarify incorrect information. But I can't catch everything. Please keep your posts focused on Gannett and media-related subjects. Note that I occasionally review comments in advance, to reject inappropriate ones. And I ignore hostile posters, and recommend you do, too."
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