Thursday, July 26, 2007

Tribune gained a bit while other newspaper stocks sink in wake of Wall Street plunge

Publicly traded newspaper companies fell sharply Thursday along with a sinking market that took more than 300 points off the Dow Jones Industrial Average.

One exception to the sell-off was Tribune Co. (NYSE:TRB), which gained 4 cents, or 0.14%, to close at $28.24. Investors apparently are sticking with the stock on the company's assurances that it has the financing commitments to close its going-private deal with Chicago real estate magnate Sam Zell. The price, though, remains well below the $34 per share price of the two-stage transaction. Editor & Publisher
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