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Saturday, October 25, 2008

Newspaper = towne crier part three

I'm not feeling any schadenfreude, I swear. I'm just reporting the facts:

Shares of newspaper and television companies have been dropping steadily for more than a year. Share prices in Canada's biggest newspaper companies (Torstar, Quebecor, FP Newspapers Income Fund, Transcontinental) have dropped an average of 42 per cent since September 2007.

Those figures don't include the dismal record of Canwest Global Communications Corp., which owns the Global TV network and 10 major newspapers across Canada, including the National Post, Ottawa Citizen and Edmonton Journal. It traded at more than $8 a year ago, and just 93 cents yesterday.

The news is similar south of the border, with media stock prices collapsing for more than a year and the beleaguered McClatchy Corp. playing the role of Canwest, having lost more than 80 per cent of its value in one year.

More on the decline of the paper version of news here and here.

Posted by P.M. Jaworski on October 25, 2008 in Media | Permalink

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The news is similar south of the border, with media stock prices collapsing for more than a year and the beleaguered McClatchy Corp. playing the role of Canwest, having lost more than 80 per cent of its value in one year.
Posted by P.M. Jaworski on October 25, 2008

It's interesting that you didn't mention News Corp. The stock is down but profits are way up. Ultimately a company survives by being profitable not what it's shares are worth.

Posted by: The Stig | 2008-10-25 1:45:51 PM


I didn't write the article. Follow the link.

Posted by: P.M. Jaworski | 2008-10-25 1:57:09 PM



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