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The downturn in newspaper ad revenue has gone from awful to extraordinary. Gannett (GCI) told analysts that sales at its flagship USA Today paper could be down as much as 35%. That would certainly be...
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Over the last few weeks, the newspaper industry has entered a new period of decline. The parent of the papers in Philadelphia declared bankruptcy as did the Journal Register chain. The Rocky Mountain...
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Short sellers think financial stocks believe that financial stocks still have further to fall. Based on data as of February 15, short sellers kept a big bet on Citigroup (C). Share short in AIG (AIG)...
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Companies keep cutting dividends. Some are pressed for cash because of operating losses. Others are being constrained by higher debt service. Banks need to preserve capital. The problem is becoming...
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According to MINOnline, advertising pages in major monthly magazines are down 20% for issues from the first two months of this year. One of the most popular weeklies, The Economist, suffered ad pages...
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The New York Times will probably not be writing a piece on the fact that Carlos Slim has occasionally been accused of creating his great wealth in part because he has been "close" to Mexican...
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From time to time, the editors at 24/7 Wall St. will look at which companies may file for Chapter 11 bankruptcy protection over the next year. The analysis involves looking at SEC filings with a...
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No one working in the media industry will ever have seen a year as bad as 2009 will be. The sharp slide in advertising began in 2008, and, based on the worsening economy, there is no reason to think...
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At the beginning of the decade a number of internet and next-generation technology companies raised money through venture capitalists and IPOs. Many of these companies had little, if any, revenue....
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K-V Pharmaceutical (KVA) Suspends shipments of tablet-form drugs and expects earnings hit. Stock falls to $2.50 from 52-week high of $29.02. American Greetings (AM) Says it lost money. Drops to $6.20...
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McClatchy (MNI) Another big newspaper company headed toward liquidation. Drops to $.83 from 52-week high of $13.31. Markwest Energy (MWE) Downgraded by Morgan Keegan. Drops to $7.36 from 52-week high...
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McClatchy Newspapers (MNI) Drops to $.98 as shareholder panic. The 52-week high is $13.31. Stone Energy (SGY) Cuts production view for quarter. Drops to $8.47 from 52-week high of $73.96. Nortel...
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What appears to be a wave of panic-driven selling is taking shares in newspaper chain McClatchy (MNI) down 26% to a new multi-year low of $1.10. The stock has a 52-week high of $13.31. On Monday,...
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According to Reuters, the House will vote on the auto bailout as early as this week. Reuters writes that Rio Tinto (RTP) will cut 14,000 jobs. Reuters reports that AIG (AIG) owes other firms $10...
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A day ago came news that McClatchy (MNI) would sell its flagship Miami Herald. The day before, the Rocky Mountain News went on the block and Newsday said it would make additional newsroom cuts....
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