MNI
MNI Articles
The newspaper industry was hit with another downgrade today, astonishing because almost all of the stocks in the sector are at 52-week lows. Wachovia cut its ratings on several chains including...
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Gannett (GCI) may take as much as $3 billion in non-cash write-downs for some of its assets. It is that bad in the newspaper industry. The charge would cover as much as 20% of the value of...
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Washington Mutual (WM) Concerns about the financial crisis burn like wildfire. Drops sharply to $6.14 from 52-week high of $44.19. AMBAC (ABK) Sells off to $2.02 after downgrades. The 52-week high...
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There are the 24/7 Wall St. odds that several companies will have to file for Chapter 11 between now and the end of the year. These will become a permanent part of the website and the list will be...
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Sam Zell took The Tribune Company private and probably regrets that every hour of every day. With the downturn in the industry, his huge debt load is like a boat anchor. Zell has announced huge cuts...
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The next newspaper company to get into real trouble is likely to be Gatehouse Media (GHS). The firm is in bad enough shape that it could be the next Journal Register. JRC, as it was known, hit hard...
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The war for newspapers to stay profitable, and, perhaps long-term, to stay viable has become a race between the fall-off in their print advertising and the increase of their online sales. Based on a...
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Newspapers continued their march into oblivion with one tiny bright spot, the internet revenue for The New York Times. Reporting April numbers, NYT said the the internet revenue in its newspaper...
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Ambac (ABK) Big loss for quarter. Falls to $3.08 from 52-week high of $96.10. Arrow Electronics (ARW) Drop off in first quarter profit. Sells down to $26.58 from 52-week high of $44.95. McClatchy...
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Wall St. has gone from hating financial firms with bad balance sheets to hating all companies with big pools of debt. With the crisis which has evolved over the last few day, debtophobia has gotten...
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Those rummaging through the garbage of 52-week low lists are usually bottom-fishing investors or desperate CEOs. But, the list is so broad that it has become a tableau of the market as a whole,...
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If you have read any of our commentary or probably most other commentary online, you know that newspapers are not exactly the next growth engine in the economy. In fact, they are probably losing...
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Short sellers went after newspaper chains with a vengeance based on data from the NYSE as of February 29. The coverage ratio for Journal Register (NYSE: JRC) hit 52 days. The stock trades at $.80...
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It should come as no surprise that companies which has taken on too much debt over the last three years will start to fail and have to file for Chapter 11. Some of the signs that this process is...
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Night of the living dead newspaper chain McClatchy (NYSE: MNI) got hit with another downgrade today. Fitch cut the company’s issuer default rating further into the junk word, dropping it to "BB"....
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