This is an interesting picture by Jin Lee for Bloomberg News:
Arthur O. Sulzberger, Jr. chairman and publisher of The New York Times Co., departs the company’s shareholders meeting at the New Amsterdam Theatre in New York, Tuesday, April 24, 2007 … using a back exit door.
Just in case.
New York Times Co. shareholders, led by Morgan Stanley, withheld 42 percent of their votes from directors to protest the Sulzberger family’s control over the company.
Five years ago, The New York Times stock was $51.88 (July 5, 2002).
This Friday, the same shares were traded at $18.87.
Not the best financial performance for a first-class newspaper.
The Sulzberger family has a problem.
They need money.
But Wall Street is not listening.
The stock is so cheap that almost any rival could buy all the available shares for next to nothing.
You don’t need to be a Google to buy all this stock.
The problem and the solution here is, again, the family.
The shares for McClatchy are going down, down …
Last quote this Friday: $16.35.
So, it seems that the compny that bought the Knight Ridder group is not having an easy ride.
The Miami Herald has problems but its parent company is not doing very well either.
The Sacramento-based company — publisher of The Sacramento Bee, The Miami Herald and 29 other daily newspapers — announced last month disappointing preliminary third-quarter earnings of $23.5 million, compared to $51.8 million for the same three-month period in 2006.
The company’s advertising revenue declined 10 percent, while circulation revenue fell 4 percent.
McClatchy officials also announced the company would take an accounting charge because of the dismal condition of the newspaper industry and its hard-hit stock, which has fallen 62 percent from its one-year high.
The shares of Apple are up 26% since iPhone launched.
So, the market has spoken.
Newspapers need to find a way to migrate content to this new multimedia platform.
Text, sound and video.
For our readers.
Our audiences.
Our communities.
On June 29, Apple fans are expected to line up in the early hours of the morning outside some AT&T and Apple stores in hope of getting their hands on one of the new iPhones.
There will be a big demand.
And a short offer.
You will see.
Apple shares are now over $124, but they could hit $150 before that date.
In July 2006, they were only $50.
