Blog Post

Newspaper Roundup: DJ Bid; Gannett & McClatchy’s April Numbers; Monster Signs

Bunch of stories about the newspaper industry:
— Dow Jones shares fell through Monday after an analyst predicted News Corp.will soon drop its $5 billion offer for the company if the controlling Bancroft family stakeholders remain opposed to the deal. Richard Greenfield of Pali Research told clients Murdoch will not “simply stand around endlessly waiting for the Bancroft family to change their minds.”..he gave it a couple of more weeks before Murdoch withdraws. MarketWatch: Greenfield said he believes News Corp. will not raise its offer to $80 a share, as some had speculated, but will “wait to see what happens” to Dow Jones stock in subsequent months. The stock is likely to drop considerably, perhaps below the $35 to $39 trading range it had been mired in before Murdoch’s bid became known.
— Gannett reported its April numbers, and the numbers aren’t great. But that’s not news.
— For McClatchy, online advertising was down 2.1 percent in April and is “continuing to be affected by the new affiliate agreement with CareerBuilder for online employment advertising,” it said. “This agreement is helping to grow online employment revenues at the legacy McClatchy newspapers, but under the new affiliate agreement selected products are no longer available to be sold by the 20 acquired Knight Ridder newspapers thus depressing their internet revenues. We will begin cycling through this change in August 2007.”
— Monster is expanding its partnerships with newspapers, adding 80 recruitment Web sites associated with papers owned by Community Newspaper Holdings. It already has deals with 60 daily newspapers to provide online job-search functions, including The New York Times as well as The Boston Globe.