What you're looking at above is the five-year stock chart for the Tribune Co., which owns the Sun-Sentinel. Its stock is worth about $3.7 billion now, down about half from its high in 1999. They're trying to complete a deal to go private with Chicago billionaire Sam Zell that I think Zell is going to lose his ass on.
No gloating at the Miami Herald, though. Here's the five-year chart for its parent, McClatchy:
That's a grim plunge, folks, the worst of all. McClatchy stock was going for an all time high of about $76 a share or so a few years ago. Right now the same share is checking in at $13.31. You do the math. It's ugly. But if you think those two companies are alone, check this one out:
That's the New York Times company, which is now worth about $2.4 billion on the market, down from its all-time high of about three times that.
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That's all. Just wanted to cheer you up. It's the Pulp's mission during this holiday season. There is but one real hope for these companies: Finding a way to truly "monetize" the Internet while gradually shedding the flabby ways of the past. At the same time, they have to remain relevant -- and that means doing kick-ass journalism, not telling people how to buy an XBox 360. In other words, there's hope in this catastrophe -- and opportunity.