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Newspaper Stocks Slip As Big Names Face Credit, Share Downgrades
biz.yahoo.com ^ | 17 March 2006 | staff

Posted on 03/17/2006 11:50:40 AM PST by Grampa Dave

Newspaper Stocks Slip

Friday March 17, 2:31 pm ET

Newspaper Stocks Slip As Big Names Face Credit, Share Downgrades

NEW YORK (AP) -- Shares of newspaper stocks fell Friday, after credit ratings agency Moody's Investors Service warned that it is considering downgrading Tribune and the New York Times Co. It also follows a stock downgrade on Tribune, whose papers also include the Chicago Tribune and Newsday in New York.

Tribune shares fell $1.10, or 3.6 percent, to $29.67 in afternoon trading on the New York Stock Exchange, putting the Chicago-based company's stock down 3 percent for the year so far.

Moody's earlier Friday said it is reviewing its debt rating on Tribune's unsecured, long-term debt, saying it has ongoing concerns about the outlook for the newspaper sector. Moody's also cited Tribune's high debt burden, versus its cash flow.

"Fundamentals in the newspaper sector will remain weak for the foreseeable future," Moody's said. "Of particular concern is the continuing downward trend in circulation and intensifying competition from online rivals."

On Thursday, Deutsche Bank analyst Paul Ginnocchio recommended that investors sell Tribune's stock, saying the company's February newspaper revenue was worse than expected, and that the second-half of 2006 "could significantly deteriorate from here." Ginnocchio previously recommended investors hold the shares.

The New York Times also faces a possible credit downgrade by Moody's. The ratings service earlier Friday said that it is concerned about the company's high financial leverage, deteriorating operating margins and weak free cash flow available for reducing debt.

New York Times shares fell 61 cents, or 2.3 percent, to $26.02 in recent trading.

The reports pulled other newspaper stocks lower as well.

Washington Post Co. shares fell $36.49, or 4.83 percent, to $718.50, while shares of local newspaper company Media General Inc. fell $1.59, or 3.2 percent, to $47.56.

USA Today publisher Gannett Co.'s stock fell $1.20 to $59.37.

Dow Jones & Co., publisher of the Wall Street Journal, was down 62 cents at $40.15 in recent trading.


TOPICS: Business/Economy; Culture/Society; News/Current Events
KEYWORDS: biasmeanslayoffs; enddaysformsm; msm; msmdying; new; newspapers; newyorktimes; nytimes; oldmedia; times; trysellingthetruth; york
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To: ncountylee

The owners of fishwrap stocks will be marching with less green in their portfolios after today.


21 posted on 03/17/2006 12:05:26 PM PST by Grampa Dave (How long has the NY Slimes and LA Slimes been Enroning (cooking) their books?)
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To: Dont_Tread_On_Me_888

Now be quiet.

We don't want to wake them up to the reality of your #2.:)


22 posted on 03/17/2006 12:07:02 PM PST by Grampa Dave (How long has the NY Slimes and LA Slimes been Enroning (cooking) their books?)
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To: Grampa Dave

You need your graphic from the other day in here.....


23 posted on 03/17/2006 12:07:51 PM PST by Ernest_at_the_Beach (History is soon Forgotten,)
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To: Grampa Dave
Message to "Mainsteam Newsmedia":

Propaganda is boring!!!

24 posted on 03/17/2006 12:08:39 PM PST by Savage Beast (9/11 was never repeated--thanks to President George W. Bush.)
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To: Grampa Dave
Great line "Fishwrap" stocks. Maybe we should contact NASDAQ and see if we can create an index.
25 posted on 03/17/2006 12:08:46 PM PST by mek1959
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Comment #26 Removed by Moderator

To: Miss Marple

The plunge in stock value by the Compost/WPO makes me wonder. In the early morning, WPO had a nice 1% gain, and it darn hit a 5% loss in one day.

It will be interesting to see how many insiders were dumping their stocks ahead of bad news we aren't aware of.


27 posted on 03/17/2006 12:09:31 PM PST by Grampa Dave (How long has the NY Slimes and LA Slimes been Enroning (cooking) their books?)
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To: Grampa Dave
Washington Post Co. shares fell $36.49, or 4.83 percent, to $718.50

Hi Grampa. DO you know if this is a typo, or is WaPo stock really worth nearly a grand per share? Seems way out of line with the figures published for the other newspaper companies.

28 posted on 03/17/2006 12:10:01 PM PST by Wolfstar (There is no death, though eyes grow dim. There is no fear when I'm near to Him.)
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To: AmishDude

What are the Auto Parts people doing wrong? Unions...UAW...american toyoto and honda are doin fine...


29 posted on 03/17/2006 12:12:42 PM PST by mo
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To: US_MilitaryRules

"Start Shorting these POS's! WOOOOOHHOOOOOOO!!!!!!"

Big money might be made shorting these POS's.

Freepers need to check their mutual funds to see if that fund has any of these losers. A 5% loss on the Compost stock value could be a huge loss for a mutual fund that might own 30 to 40 stocks.


30 posted on 03/17/2006 12:13:19 PM PST by Grampa Dave (How long has the NY Slimes and LA Slimes been Enroning (cooking) their books?)
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To: Wolfstar

I checked 2 different site and they have the same price for their stock

http://www.investorguide.com/stock.cgi?name=WPO&code=g


31 posted on 03/17/2006 12:14:52 PM PST by Mo1 ("Stupidity is also a gift from God, but it should not be abused." Pope John Paul II)
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To: Grampa Dave
Check this out

WASHINGTON (MarketWatch) -- Editors at the Washington Post are wrestling with discontent from reporters who think they should be paid extra for contributing to a group Web log. The Washington City Paper reported staffers on the Post's metro section asked for extra money after learning some prominent byliners were being paid for Web logs while they would not be.

32 posted on 03/17/2006 12:19:28 PM PST by Mo1 ("Stupidity is also a gift from God, but it should not be abused." Pope John Paul II)
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To: Wolfstar; Liz; LS

"Washington Post Co. shares fell $36.49, or 4.83 percent, to $718.50

"Hi Grampa. DO you know if this is a typo, or is WaPo stock really worth nearly a grand per share? Seems way out of line with the figures published for the other newspaper companies."


WPO is an Enron type of stock that is the favorite of rich liberals like Warren Buffet. That was the correct value at that time.

WPO stock is owned by liberal controlled mutual funds, state retirement funds and other liberal organizations. It has served their purpose to help Enron the stock value of WPO.

If the value of WPO ever really breaks, there will be a lot liberals losing some very large sums.

The Enroning of the stock value of newspapers is an incredible story for a Freeper with good writing skills and an investigative back ground. If the plug ever gets pulled on the over rated value, it will be very interesting.


33 posted on 03/17/2006 12:20:17 PM PST by Grampa Dave (How long has the NY Slimes and LA Slimes been Enroning (cooking) their books?)
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To: Baynative

Individuals carrying unrealized losses on these stocks will begin looking to sell them to offset realized gains on other stocks to avoid CG taxes.


34 posted on 03/17/2006 12:20:30 PM PST by libstripper
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To: Mo1

I read that earlier and didn't post it as a thread, because, I didn't really understand what the thread was saying.

It sounds like the Compost was forcing its lower employees to blog for free and not paying them, while paying the big name WPO bloggers.


35 posted on 03/17/2006 12:22:02 PM PST by Grampa Dave (How long has the NY Slimes and LA Slimes been Enroning (cooking) their books?)
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To: Grampa Dave


36 posted on 03/17/2006 12:22:15 PM PST by New Perspective (Proud father of an 2 year old son with Down Syndrome)
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To: Baynative

"I also wonder how long stockholders will try to hang on. Their downfall will come when institutional buyers and fund managers see the writing on the wall and start dumping large holdings."

That was what forced the sale of Knight Ridder earlier this week. A big financial backer forced them into selling because of terrible results.


37 posted on 03/17/2006 12:23:33 PM PST by Grampa Dave (How long has the NY Slimes and LA Slimes been Enroning (cooking) their books?)
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To: Baynative

It is Bush's fault for the worst newspaper economy ever in this nation.


38 posted on 03/17/2006 12:26:06 PM PST by Grampa Dave (How long has the NY Slimes and LA Slimes been Enroning (cooking) their books?)
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To: Mo1

The chart on your link says there are 9.6 million shares out for the WP company, where in the New York Times Company there are 144.3 million shares out. That would account for the high price of WPO, there are not as many shares out there.


39 posted on 03/17/2006 12:32:03 PM PST by Anti-Bubba182
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To: Grampa Dave
If Discovery does this quickly, some of the dinos might still be alive.

We'll send Dick Cheney after those.

40 posted on 03/17/2006 12:35:57 PM PST by Netheron
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