Expect new blows to US media stocks

US media stocks are preparing for another battering over the next two weeks as second quarter results are published. Look how bad it is already: GateHouse Media, down 91.7% on the year high; Lee Enterprises, down 84.1%; McClatchy, down 82.3%; Media General, down 68.7%; Gannett, down 68%; Journal Communications, own 65.4%; New York Times, down 43.9%; Washington Post, down 34.3%. Editor & Publisher writer Mark Fitzgerald comments: "It's tempting to think things can't get worse for newspaper stocks." But he concludes that second quarter earnings reports "are sure to give disenchanted investors even more reasons to dump newspaper stocks." (Via E&P)