Monday, March 01, 2010

Stock | Gannett, other newspaper shares jump

Led by a more than 7% gain in the New York Times Co., shares of major publishers I follow are sharply higher in trading so far today. GCI recently traded for $15.96 a share, up 5.4%. The stock has traded as high as $16.04 today -- well up from its 52-week low of $1.85, but off its high of $17.33.

NYT shares are moving higher on rumors that major investor Carlos Slim of Mexico is seeking to take over the entire company, MarketWatch reported earlier. But Slim's spokesman now says the investor isn't interested, according to a Wall Street Journal report now being cited by MarketWatch.

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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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