Newsonomics: Poison Pill Swallowed, What’s Next for Reeling Gannett?

Sixty-three cents. That’s all it took to buy a share of Gannett at market close yesterday.

The entire company—valued at $18.5 billion-with-a-“b” 15 years ago, not to mention $823 million-with-an-“m” as recently as January—is today worth just $88 million. Gannett—the largest chain in the nation, delivering 25 percent of the nation’s daily newspapers each morning—now trades at 12 cents below the frozen level of its bankrupt peer, McClatchy.

RSS
Follow by Email
Facebook
Facebook
Twitter
Visit Us
LinkedIn
Read More

Leave a Reply

Your email address will not be published. Required fields are marked *