‘The Journal Star may not be doomed after all’
As it turns out, GateHouse Media just might survive being delisted from the New York Stock Exchange. You can read the whole thing in the November issue of the Community Word.
Peoria Pundit
News and Media from River City
October 29th, 2008 at 12:21 am
I don’t pay too much attention to what Michael Reed says. He seems to live in an alternate reality. The plan GateHouse filed with the NYSE to get its stock back into compliance was wishful thinking, and it didn’t take long for the exchange to realize it. The stock closed on the pink sheets at 5.5 cents Tuesday, down from 6 cents.
Fortress is not in such great shape, either.
I do have more hope for the Journal Star, though. I believe it’s still profitable, and it will go on, regardless of what happens to its step-parent.
I wish more people realized what’s at stake as the newspaper death spiral accelerates. I don’t care how many blogs, Twitters, cable news networks and local TV stations there are. Newspapers still do most of the heavy lifting in this country when it comes to keeping citizens informed. I hope it’s not the case that we only miss them when they’re gone.
October 29th, 2008 at 1:33 pm
Amen to that.
Blogging is a fad right now, but I don’t see much a longterm impact on the mainstream media.You can’t put Pepsi Cola out of business by opening a lemonade stand.