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.
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