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With Newspaper Stocks Trading Some 30- 40% Below Fair Value, They Needed Some Good News This Week, But the Semi-Annual Circulation Figures Issued This Week Sure Didn’t Help The Cause
Philip M. Stone November 7, 2007
With publicly traded US newspapers undervalued by some 30-40% all it would really take is a little good news to get things moving in the right direction -- witness how the New York Times shares went up more than 9% on the day it announced improved Q3 earnings -- but unfortunately the latest audited circulation numbers out this week just pile on the bad industry news for lower daily and Sunday circulation.
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