Newspaper stocks down after circulation report

MarketWatch
The stock markets were down 2.5 to 3 percentage points Tuesday, but newspaper stocks fell even more after the Audit Bureau of Circulations released its latest report. Gannett’s stock price fell 7.1 percent and The New York Times Co. was down 5.6 percent. Other declines:

  • Media General: down 5 percent
  • E.W. Scripps: down 4.7 percent
  • News Corp.: down 4.3 percent
  • McClatchy: down 3.2 percent

Circulation of the top two newspapers, The Wall Street Journal and USA Today, was down slightly compared to the previous six months; The New York Times’ circulation was up 25 percent due to its paid online subscribers. New reporting rules mean the latest figures can’t be compared to the year before. || Earlier: Wall Street Journal, USA Today, New York Times top latest circulation report

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