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Black Hills Monitor: Lee Enterprises Stock Now a Penny Stock

Posted by tdepp on January 6, 2009

My old boss at South Dakota Public TV, Larry Miller at the Black Hills Monitor, has a thoughtful piece on the dismal status of Lee Enterprises stock.

Lee owns the Rapid City Journal and a number of other local weeklies as well as a number of other dailies across the country.

Larry notes how the stock has dropped from $14.91/share in early 2008 to a pre-Holiday low of 30 cents/share.  Lee has been delisted form the NYSE.

Larry is more hopeful that I am that Lee can get back to profitability.  I think holding newspaper stocks in 2009 is like owning buggy whip stocks in 1909.  There’s not much upside.

Anyway, go read Larry’s excellent article.

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