Newspaper Stocks: NYTimes, Gannett, McClatchy

US newspaper stocks have been facing the brunt of worsening economic conditions and the attack from digital media. The main source of their revenues – vertical classifieds – have steadily been moving online. Their response should be to invest in and acquire online verticals, which has happened to some extent. Not enough, though. The latest quarterly results of three companies, The New York Times, Gannett, and McClatchy, thus, were representative of the bloodbath their stocks have been experiencing.

[Sramana Mitra on Strategy]