By: Shares in many newspaper companies fell Monday amid a general market decline as investors feared that Congress won't approve a financial bailout package.
In a major setback, the House defeated a $700 billion emergency rescue package on Monday, 228-205, despite urgent pleas from President Bush and bipartisan congressional leaders to quickly bail out the staggering financial industry.
Many stocks, already down before the vote was announced, tumbled further.
Shares in McClatchy (nyse: MNI - news - people ) Co., which said Friday it won key concessions from its lenders, fell 25 cents, or 5.6 percent, to $4.25 in mid-afternoon trading Monday.
Gannett Co. (nyse: GCI - news - people ) was down $1.15, or 6.3 percent, to $17.05.
Media General (nyse: MEG - news - people ) Inc. lost $1.26, or 9.9 percent, to $11.44.
The New York Times Co. (nyse: NYT - news - people ) shed 64 cents, or 4.3 percent, to $14.28.
The E.W. Scripps Co. (nyse: SSP - news - people ) lost 27 cents, or 3.6 percent, to $7.21.
The Washington Post Co. (nyse: WPO - news - people ) fell $34.97, or 6.2 percent, to $528.61.
But shares in Lee Enterprises Inc. (nyse: LEE - news - people ) gained 10 cents, or 3 percent, to $3.45.
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