Posted on 01/26/2006 4:57:48 AM PST by abb
NEW YORK (MarketWatch) -- Newspaper publisher and broadcaster Media General (MEG) on Thursday reported net income for the fourth quarter of $25 million, or $1.05 a share, compared to $36.8 million, or $1.55 a share, a year earlier. Profit in the quarter was hurt by the absence of political advertising revenue. Total revenue in the quarter slipped to $245.5 million from $249.7 million. Analysts, on average, were expecting it to post a profit of $1.04 a share, according to Thomson First Cal
The LAME Street Media is disintergrating FAST !!
I wouldn't celebrate too fast or too loud.
What we might get are mergers and takeovers. Don't think that fewer newspaper publishers is a good thing for us.
Would consolidation and concentration in fewer hands improve the objectivity of the news reaching our homes?
Even the Wall Street Journal has been the subject of buyout rumors.
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