By: Mark Fitzgerald
On a day when the tumbling Dow Jones Industrial Average took the entire publicly traded newspaper sector down with it, three companies — The McClatchy Co., A.H. Belo, and Media General — hit new 52-week lows for their stock prices.
McClatchy (NYSE: MNI) ended 4 p.m. EDT trading at $8.66, off 11 cents, or 1.25%, from its open. McClatchy had traded in a 52-week range of $8.73 to 35.48.
Media General, now fully engaged in a proxy fight with the second-largest holder of its publicly traded stock, closed the day at $145.37, down 56 cents or 3.75%. Media General (NYSE: MEG) had traded in a range of $14.82 to 41.03.
A.H. Belo, the pure-play newspaper company spun off from the Dallas-based Belo Corp., hit a new low of $11.55, down 110 cents or 0.86%, from its open. A.H. Belo stock (NYSE: AHC) has been beat up by Wall Street since it first traded as a pure-play on Feb. 11. The Dallas Morning News publisher’s stock opened that day at $16.35, and within two hours had fallen below $15. It ended that day at $14.40.
The Dow Jones average ended the day down more than 153 points, or 1.29%, at 11,740.