Barring an 11th hour rally tomorrow, Gannett's stock will finish the year nearly dead even with a year ago, when GCI ended 2009 at $14.85 a share. (It closed today at $15.) By contrast, the S&P 500 index, which reflects the broader stock market, is on track to end 2010 up nearly 13% from Dec. 31, 2009, according to Google Finance.
Related: GCI prices, Dec. 31, 2009 to Dec. 31, 2010
Thursday, December 30, 2010
3 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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The media universe is spinning away and leaving Gannett in its vapor trail. Ad and marketing dollars are going to Facebook, Groupon, OpenTable, eBay, Amazon and new websites every day. Gannett simply isn't in the game, except for full-page ads for hearing aids, hoaxy-looking herbal supplements and commemorative gold coins of questionable legitimacy. At this rate, Gannett shares amount to high-risk speculation.
ReplyDeleteOne wonders why Gannett hasn't retained an investment bank to weigh the company's alternatives as a going concern. Patch, HuffPost and Politico see value in creating local/state websites and generating local content, however unprofitable they might be right now. The sale of selected markets (e.g. Camden, as some suggest) might be a good way for Gannett to unload some papers and all their liabilities while they still have decent market shares for reader eyeballs and go-to name recognition. Gannett should at least solicit bids. Otherwise the papers will be consolidated to the point where everything is run by a group of hamsters in a single control room in Topeka.
Wow! We are purchasing the Topeka Capital-Journal!
ReplyDeleteWay to go!
Yes, a share price even with last year. But not a profitless investment. Because GCI paid a quarterly dividend in 2010. Depending upon what price a stock owner bought in during the recent crash, this dividend yield could have been as high as 4 to 5 percent. So what did your savings account or money market fund yield in 2010?
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