Newspaper stocks bounce back big time
Everyone likes to bag on the declining newspaper industry.
Actually, “everyone” is probably more like only those in the media business who can’t help but notice the emerging new technologies (Internet, cell phones, iPhones, etc) that make news more immediate and on-demand. Truth is, the every day guy probably doesn’t even care where he’s getting his news. I doubt he has loyalty to newspapers or the local TV news. It’s convenience and what topics he’s interested in.
Wednesday was not a good day for a few newspaper chains’ stock. But Thursday was a different story: newspaper stocks bounce back big time.
