By: Mark Fitzgerald
It’s now cheaper to buy a share of Journal Register Co. than its daily newspaper in Lorain, Ohio, The Morning Journal.
Journal Register stock (NYSE: JRC) closed Wednesday at 44 cents a share, down 5 cents, or 10.25%
Journal Register, which has not been traded on the floor of the Big Board since falling below $1.05 a share several weeks ago, had a trading volume a little more than double its three-month daily average. There was no apparent news on the stock.
Another stock that has not been traded on the floor in weeks, Sun-Times Media Group (NYSE: SVN) soared 11.25% Wednesday following after markets closed Tuesday that its controlling stockholder — Conrad Black’s former holding company Hollinger Inc. — had agreed to give up control by converting its super-voting shares to one-vote shares, and with the resignation of six directors Hollinger installed in a corporate coup last spring.
Sun-Times Media Group closed at 89 cents, up 9 cents on the day.
On a day the Dow Jones average fell 109 points, the newspaper sector was mixed, with no big movements up or down.
Media General Inc. (NYSE: MEG) ended the day at $14.57y, up 20 cents, or 1.39%
The McClatchy Co. also ended up, at $9.75, a gain of 24 cents, or 2.52%
Gannett Co. Inc. (NYSE: GCI) ended at $30.44, off 33 cents, or 1.07%.