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  • Newspaper Circulation: Less Really Is Less [View article]
    Great coverage as usual, Ken -- thank you. A quick thought: the circulation declines are accelerating perhaps because of the recession. Even if you liked reading a physical newspaper and didn't feel it was "a print-out of yesterday's news", it's harder to justify the cost in a recession when you know you can read the news online for free.
    Oct 27 04:43 PM | Likes Like |Link to Comment
  • Another Blow To Newspapers: Facebook Classifieds [View article]
    Student rentals aren't a huge market. But the Web 2.0 wave is about <b>fragmentation into niche markets</b>, each of which aren't necessarily huge, but which in aggregate chip away at large, non-segmented markets. For example, look at how highly focused blogs on topics like gadgets, cell phones, startups and telecom/internet are chipping away at the broad audiences previously dominated by mainstream tech journalism.

    So you're right about the market size, but this is part of a broader trend that is highly significant. And I think Scott is right that social networking is a good platform for consumer to consumer transactions due to the trust issue.
    May 11 04:15 PM | Likes Like |Link to Comment
  • Newspaper Stocks Climb on Dow Jones Bid [View article]
    Dow Jones has unique content, powerful brands, excellent management and a significant online presence, factors which are not necessarily true for some of the other newspaper stocks. My guess is that some of these stocks will trade back down. Remember also that the Tribune bid was at a low premium, so the newspaper space generally isn't exactly a bidding battlefield.

    And look at what Bill Nygren recently wrote about newspaper stocks.

    Full disclosure: short LEE.
    May 1 02:04 PM | Likes Like |Link to Comment
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