Thursday, May 09, 2019
DEAD-TREE DEMISE!!! McCLATCHY STOCK FALTERS WHILST KANSAS CITY STAR PRINTING PLANT SELLING AT LOSS!!!
At then end of business, stock in the Kansas City Star's parent company is valued at less than three bucks.
It gets worse . . .
THE KANSAS CITY STAR COULD SOON BE JUST ANOTHER DOWNTOWN RENTER!!!
A few of our readers remember recent reporting back in March noting that the printing facility and KC Star officers are also up for sale.
KCTV5: The 424,000-square-foot building located at 1601 McGee St., which also also houses its newsroom and business offices, is listed for $31 million.
A few of our readers note that JimmyC has a far too wordy take on the old news topic which seems just a bit jelly of his former colleagues who still have a job. Again "news" of the sale was hinted two months ago.
The only relevant info from today's bad news conference call noted here more succinctly:
- McClatchy reports a net loss of $42 million for the first three months of 2019.
- Internets won't save McClatchy: Digital-only advertising revenue was down — down by 5.2 percent against the first quarter of 2018.
- Total advertising revenue was $85.2 million, down 14.7% compared to the first quarter of 2018.
However, here at TKC the only thing we subscribe to is the tech analysis school of biz gawking i.e. the only thing you need to know about a company is its stock price.
Right now the fortunes of the Kansas City Star are plummeting and hedge funds are looking to pick its parent company apart.
And so . . .
THE LAST HOPE OF THE KANSAS CITY STAR & McCLATCHY REMAINS PRICEY AND WORTHLESS DIGITAL SUBSCRIPTIONS!!!
The buy-in is really more of a donation but we've all got to hustle in our own way.
A few scam artists reporters have tried to distance themselves from the financial drama but without the debt structure and support that corporate ownership provides, The Star wouldn't even be a decent shopper throwaway.
In the final analysis and with much more effectiveness than social media rhetoric. The market has decided that newspapers no longer hold much value.
Developing . . .