Well, look at this little disclosure. One of the most expensive stocks in America appears to have the Enron Virus which leads to Enroning/cooking the books.
The Post will not reveal circulation and ad revenue figures to Media Life, but data available elsewhere paints an alarming picture. Ad revenue is up just slightly over the past five years, to $783.5 million last year from $770.6 million in 2000, according to TNS Media Intelligence.
But circulation has tumbled, falling by 137,695 for the weekday paper in the past decade, from 816,474 for the year ended Sept. 30, 1995 to 678,779 for the six-month period ended Oct. 2, 2005. That's a decline of 17 percent. That's according to numbers from the Audit Bureau of Circulations, the latter of which has not been audited yet and is based on publisher statements.
Warning to all Freepers. You should check your mutual funds to see if they are supporting these left wing dinosaurs: WPO, NYT and TRB. If so, you might want to trade those funds for those without the Enron virus/time bombs, aka, cooking their books.
IBD has a great editorial today about the decline of the old media...
"A ritual narrative developed: Social tensions and economic disparities always arose from an unregulated zone of life. The world's problems could always be laid at U.S. foreign policy. Top prizes went to stories premised on the need for tighter political control or a more "sophisticated" acceptance of other nations' statecraft.
This set of ideas, though unacknowledged by the craft's practitioners, came to be known as "liberalism." The philosophy had a good run, from William Paley's building of CBS through the Sulzberger dynasty at The New York Times. It remains in evidence at NBC, ABC and CNN, as well as at the expanded McClatchy empire and the still-dominant Gannett chain."