Report: McClatchy stock ‘could be worthless’

17 Nov 2008

Woes for McClatchy just keep piling up. A new Morningstar report say shares in the company “could be worthless.”

Stock analyst Tom Corbett wrote, “After lowering our sales and profitability forecast, we’ve reduced our fair value estimate on McClatchy’s shares to $0 from $2 each. We think the combination of McClatchy’s exposure to the decline in print a

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Brian Blum

Brian Blum covers the U.S., Canada and Israel for Classified Intelligence Report, and contributes to our special reports and research projects. Originally from San Francisco and now based in Jerusalem, he has been with the AIM Group since 2004. He is the president of Blum Interactive Media, specializing in writing and multimedia content development for online, print, video and audio. His clients include newspapers, universities and non-profits. He is currently working on a book about the billion-dollar bankruptcy of a once high-flying Israeli startup.