- Lee Enterprises: down 97%
- A.H. Belo: down 96%
- McClatchy Co.: down 94%
- Belo Corp.: down 89%
- Gannett: down 79%
- E.W. Scripps: down 79%
- New York Times Co.: down 58%
- News Corp.: down 55%
- Washington Post Co.: down 51%
- S&P-500: down 39%
- Dow Jones: down 34%
Tuesday, March 17, 2009
GCI stock ranked in middle in 2008 performance
How shares performed last year compared to other major media, and broad stock market indexes:
2 comments:
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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Shouldn't include Scripps, which split at mid-year into two companies. If you put them back together, drop is about 50 percent and among the better performers of a miserable lot.
ReplyDeleteFolks at this site
ReplyDeletehttp://tinyurl.com/dj9wo9
Are suggesting that Gannett is among 9 other stocks they think might double in value this year.
"Gannett (GCI) will never recover. That is the conventional wisdom. It
is in the newspaper business which is dead. Its debt was recently cut to junk by Moody’s and it reduced its dividend. Shares have fallen from a 52-week high of $31.86 to $1.85. Over the last year, the stock
has dropped as much as shares in some of its major rivals. but Gannett is by far the strongest company in the industry. Even if Gannett out of business in a decade, it prospects over the next year or two are reasonable. Last year Gannett had revenue of $6.8 billion, down from $7.4 billion the year before. After backing out a non-cash charge, the
firm made about$1.2 billion, off from almost $1.7 billion in 2007.
Gannett’s revenue will almost certainly be down again this year, but it should benefit from two things. The first is cost cuts it has already made along with more that it is likely to make and the very good chance that the company will begin to close money-losing properties. The print industry will never be close to what it was five years ago, but small recovery in national and local advertising
combined with brutal costs cuts will keep Gannett on its feet. The
stock should be down, but not to under $2."