Just $3.6B: Total value of 10 news stocks
The $3.9 billion plunge in the value of newspaper stocks since the first of this month – a period marked by successive new lows in the prices of several issues – has dropped the collective value of the following publishers to just $3.6 billion:
:: A.H. Belo (AHC) today is worth $119 million, down 58% from $282 million when it began trading earlier this year as a free-standing newspaper publisher.
:: GateHouse Media (GHS), worth $59 million, down 95% from $1.2 billion at its curiously strong initial public offering in October, 2006.
:: Journal Communications (JRN), worth $266 million, down 78% from $1.2 billion on Dec. 31, 2004.
:: Journal Register Co. (JRCO), worth $6 million, down 99% from $746 million on Dec. 31, 2004.
:: Lee Enterprises (LEE), worth $145 million, down 93% from $2 billion on Dec. 31, 2004.
:: Media General (MEG), worth $248 million, down 83% from $1.5 billion on Dec. 31, 2004.
:: McClatchy (MNI), worth $387 million, down 93% from $5.7 billion on Dec. 31, 2004.
:: New York Times Co. (NYT), worth $1.85 billion, down 67% from $5.6 billion on Dec. 31, 2004.
:: Scripps (SSP), worth $522 million, which was newly launched as a pure-plan newspaper company on July 1, 2008. More details below.
:: Sun-Times Media Group (SUTM), worth $32 million, down 98% from $1.3 billion on Dec. 31. 2004.
The only companies not on the above list are:
:: Gannett (GCI), worth a bit less than $4 billion, down 79% from $18.5 billion on Dec. 31, 2004.
:: News Corp. (NWS), worth $37.2 billion, down 36% from $58.4 billion on Dec. 31, 2004.
:: Washington Post (WPO), worth $5.5 billion, down 24% from $7.3 billion on Dec. 31, 2004.
At today's close, the total decline in value of the dozen newspaper shares trading since the first of the year was nearly $27.7 billion, a plunge of 35.7% in 6½ months. This calculation does not include the shares of Scripps, which dropped some $6.2 billion in value on July 1 after the company’s non-newspaper assets were spun into a separate company.
Counting Scripps, the aggregate value of newspaper shares dropped $10.2 billion since the first of this month. When you back SSP out of the calcuations, you find that newspaper stocks have slipped $3.9 billion since July 1.
If you want to be more depressed, take a look below at the performance of nine newspaper stocks that have been around since 2004 in essentially the same incarnation, give or take a few mergers. The collective value of this group has plunged $31.4 billion, or 71.6%, since Dec. 31, 2004.
Before you get too upset, remember the month is only half over.