$19 Billion Gets You All of It

Gets you what? $19 billion is the market capitalization of 10 of the major U.S. newspaper stocks. Put another way, about 1/8th the value of Google.

To be clear, this is not the valuation of the top 10 newspaper companies because Hearst, Tribune, Cox are private and Dow Jones is part of behemoth News Corp, but it does make a stark statement about the wisdom of being public ownership of media stocks. There are calls for private equity to jump in and pick up cheap newspaper stocks but I don’t see that happening because 1) The Sam Zell Experience, 2) organized labor is a hazard on the print side of newspaper operations and threatens the online side as well, and 3) we’re dealing with some fundamentally broken businesses who’s salvation is not going to be found in cost cutting and reorganizations.


Name Symbol Last price Change Mkt cap Volume Open High Low
Gannett Co., Inc. GCI 18.34 0.57 $4,194 3260344 17.83 18.74 17.61
Journal Register Company JRCO 0.09 -0.01 $4 229059 0.095 0.105 0.09
Journal Communications, Inc. JRN 5.58 0.59 $313 299080 4.9 5.97 4.9
Lee Enterprises, Incorporated LEE 4.31 0.26 $193 492527 4.57 5 4.1
Media General, Inc. MEG 13.54 -0.09 $310 71662 13.51 14.24 12.95
The McClatchy Company MNI 5.18 0.23 $426 509975 5.06 5.34 4.98
The New York Times Company NYT 13.06 0.2 $1,878 1939797 13.05 13.42 12.38
Sun-Times Media Group, Inc. SUTM 0.4 0 $32 0 0.4 0.4 0.4
The Washington Post Company WPO 610.51 10.01 $5,816 8900 598.1 613.49 598.1
Scripps Networks Interactive, Inc. SNI 39.7 0.61 $6,487 196624 40.21 40.4 38.5

BONUS: Here’s a really cool family tree chart that details who owns what in the media business.