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  • Last Year Tough for Print Media as Newspapers Lose $64B in Share Value

    01/02/2009 12:03:48 PM PST · by Rufus2007 · 20 replies · 533+ views
    NewsBusters ^ | January 2, 2009 | Jeff Poor
    Some call it "the dead tree edition" of the news media. But as 2009 dawns, trees may not be the only casualties. Newspaper companies as an investment are less lucrative than they once were. Alan D. Mutter, a Silicon Valley CEO, pointed out on his blog that newspaper companies took a hit in 2008 in terms of share value to the tune of $64 billion. "In the worst year in history for publishers, newspaper shares dropped an average of 83.3% in 2008, wiping out $64.5 billion in market value in just 12 months," Mutter wrote on Jan. 1. "Although things...