[Grampa Dave]

There was apparently a big buy in of NYT stock at the opening bell this morning which drove up the price of the stock. However that increase in NYT and other fishwrap dinosaur stocks appears to be short lived in an up market day.

NYT = Ny Slimes stock, WPO= Washington Compost stock, MNI= McClatchey stock, TRB= Chicago Tribune/LA Slimes Stock

[abb]

Dave, you and me are liking this stuff too much, ain't we? ROFLMAO!!!

[lemura]

The LA Times ran an introspective on Otis Chandler, their former publisher, as a follow up to his obituary. Buried deep in the middle was the truth behind the Tribune's purchase of the Times-Mirror company.

Turns out that Otis was something of a figure-head; the real power was in the hands of the family trust that controlled the stock. They could give two-figs about his championing of leftist ideals - they just wanted their dividends.

They assessed the declining fortunes of the media market and made a decision to get out. It wouldn't surprise me a bit to see the same things happen at the NYT, et al as the dominos begin to fall on their whole charade.