By: Mark Fitzgerald The share price for Sun-Times Media Group (STMG) hit a 52-week low Monday on a bad day generally for newspaper stocks. The 4 p.m. closing price of $1.10 was off 33 cents, or 23.08%, from its opening.
STMG shares (NYSE: SVN) briefly skidded below $1 to 96 cents. Before today, STMG shares had traded in a range of $1.28 to $6.94.
It wasn't clear what prompted the swoon in the stock. The Chicago-based publisher of the Chicago Sun-Times and dozens of other Chicago-area papers did not release any news, and made no regulatory filings. Tammy Chase, the company's director of investor relations, said it is STMG's policy not to comment on its share price.
STMG was by far the biggest loser on the day in terms of percentage, but the newspaper sector was whacked by Wall Street nearly across the board.
Community newspaper publisher GateHouse (NYSE: GHS) fell 4.98% to $7.63.
Rupert Murdoch's News Corp. (NYSE: NWS-A) dropped 3.28% to $19.73.
Lee Enterprises (NYSE: LEE) was off 2.85% to $14.30.
McClatchy Co. (NYSE: MNI) slipped 2.38% to $13.92.
A lone gainer was Journal Register Co. (NYSE: JRC), which ended trading up 3.45% to $2.10.
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