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Wall Street Changes Tact On US Newspaper Shares – It’s No Longer About Increasing Shareholder Value But Rather It’s All About Survival
Philip M. Stone July 11, 2008
There’s just no way newspaper companies can please Wall Street these days (unless they produce higher advertising revenues) and it’s pretty obvious now that all of the previous bowing to the demands of the financial wizards to go deeper into debt to increase shareholder value via larger dividends and more share buybacks now seems to have been exactly the wrong policy at the wrong time. The shares of most are now at lows for this century and there is a genuine feeling that some well-known names may disappear.
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